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PRESIDENTIAL DECREE NO. 215
- EXEMPTING THE IMPORTATION OF OCEAN-GOING VESSELS FROM THE TEN PER
CENT CUSTOMS DUTY AND SEVEN PER CENT COMPENSATING TAX
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| In line
with the policy to encourage the development of the shipping industry
in this country, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines and
pursuant to Proclamation No. 1081 dated September 21, 1972, and General
Order No. 1 dated September 22, 1972, do hereby order and decree that
the importation of ocean-going vessels shall be exempted from the
payment of the ten per cent customs duty prescribed in the Tariff and
Customs Code and the seven per cent compensating tax provided in the
National Internal Revenue Code. Any provision of law, executive order or regulation inconsistent with this Decree is hereby repealed or modified accordingly. This Decree shall take effect immediately. Done in the City of Manila, this 16th of June, in the year of Our Lord, nineteen hundred and seventy-three. |
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