WHEREAS,
the homecoming program for overseas Filipinos envisioned in LOI Nos.
105 and 163 has been extended by LOI No. 210 from September 1, 1974, to
February 29, 1976; and chanroblesvirtualawlibrary
WHEREAS, consistent with the said extension, the temporary tax holiday
benefits under Presidential Decree No. 439 should likewise be extended
up to February 29, 1976, to provide incentives to our overseas
countrymen and their families or their dependents to visit or settle in
their motherland; chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
amend Section 1 of Presidential Decree No. 439 to read as follows:cralaw:red
"Sec. 1. The provisions of Section 105 of the Tariff
and Customs Code, as amended, to the contrary notwithstanding,
professional instruments and implements, tools of trade, occupation or
employment, wearing apparel, domestic animals and personal and
household effects, belonging to persons coming to settle in the
Philippines or Filipinos and/or their families and descendants who are
now residents or citizens of other countries, such parties hereinafter
referred to as Overseas Filipinos, in quantities and of class suitable
to the profession, rank or position of the person importing them, for
their own use and not for barter or sale, accompanying such persons, or
arriving within a reasonable time, in the discretion of the Collector
of Customs, before or after the arrival of their owners, which arrival
shall not be later than February 29, 1976, upon the production of
evidence satisfactory to the Collector of Customs that such persons are
actually coming to settle in the Philippines, that change of residence
was bona fide and that the privilege of free entry was never granted
the provisions of Letters of Instructions Nos. 105, 163 and 210, and
that the articles are brought from their former place of abode,
shall be exempt from the payment of customs duties and taxes;
Provided; That vehicles, vessels,rcraft, machineries and other similar
articles for use in manufacture, shall not be classified
hereunder." chanroblesvirtualawlibrary
* Section 2. This Decree shall take effect
immediately.
Done in the City of Manila,
this 25th day of September, in the year of Our Lord, nineteen hundred
and seventy-four.
* Text including Section numbers copied from Bureau of Printing
publication.
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