WHEREAS,
the Government has encouraged and supported the establishment of
export-oriented industries in Phividec Industrial Areas;chanroblesvirtualawlibrary
WHEREAS, to bolster the above policy of the Government, there is a need
to provide additional incentives therefor. chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and decree:cralaw:red
Section 1. Section 8 of Presidential Decree No. 538
is hereby amended to read as follows:cralaw:red
"Sec. 8. Tax Treatment of Merchandise in the Areas.
— Any provision of law to the contrary notwithstanding, raw materials,
supplies, articles, equipment, machineries, spare parts and wares of
every description, except those prohibited by law, brought in the Areas
and utilized in the production, storing, packing and shipment of goods
meant for foreign markets shall be exempt from customs duties, internal
revenue taxes, local tax ordinances, and wharfage dues on those brought
after January 1, 1977 through piers or wharves constructed by the
importer with his or its private funds."
xxx
xxx
xxx
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 11th day of June, in the year of Our Lord, nineteen hundred and
seventy-eight.
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