WHEREAS, it
is one of the country's declared policies to accelerate the development
of our mining resources and attract foreign capital in the mining
industry;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: chanroblesvirtualawlibrary
Section 1. Section 1 of Presidential Decree No. 1352
as amended by Presidential Decree No. 1359 is hereby further amended to
read as follows:cralaw:red
"Sec. 1. All importations which are at present
totally or partially exempt from customs duties and/or internal revenue
tax under the provisions of any general or special law shall be subject
to a five (5%) percent customs duty and five (5%) percent internal
revenue tax, subject to the same limitations and conditions prescribed
under such law, if any. chanroblesvirtualawlibrary
"In the case of importations enjoying partial exemption, the said duty
and tax shall be imposed on the exempt portion in addition to the duty
and tax due on the taxable portion.
"The duty and tax imposed herein shall be computed in accordance with
the applicable provisions of the Tariff and Customs Code of the
Philippines, as amended, and the National Internal Revenue Code of
1977, as amended, respectively.
"The customs duty and internal revenue tax imposed under this section
shall not apply to the following importations:cralaw:red
"1. Those which are exempt in pursuance of compliance
with international treaties or commitments, such as the ADB-RP Host
Agreement (1966); the 1947 Convention on Privileges and Immunities of
the United States Agency for International Development-RP Agreement;
the 1947 Military Bases Agreement; and other similar treaties or
commitments;chanroblesvirtualawlibrary
"2. Those which are exempt under the following
Presidential Decrees:cralaw:red
"(a) Presidential Decree No. 66;chanroblesvirtualawlibrary
"(b) Presidential Decree No. 87;chanroblesvirtualawlibrary
"(c) Presidential Decree No. 463;chanroblesvirtualawlibrary
"(d) Presidential Decree No. 529;chanroblesvirtualawlibrary
"(e) Presidential Decree No. 215;chanroblesvirtualawlibrary
"(f) Presidential Decree No. 666; and
"(g) Presidential Decree No. 972.
"3. Importations of machinery, equipment and spare
parts shipped with such machinery and equipment made by enterprises
registered with the appropriate government agency, on or before April
21, 1978, under any tax incentive law, subject to the following
conditions: chanroblesvirtualawlibrary
"(a) That the importation has been authorized by the
appropriate government agency for the prosecution of specific projects
already approved by the said agency as of April 21, 1978; and
"(b) That the herein exemption shall not be
authorized beyond December 31, 1981."
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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