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PRESIDENTIAL DECREE NO. 806
PRESIDENTIAL DECREE NO. 806
- PROVIDING FOR DIRECT INCENTIVES FOR THE DEVELOPMENT OF PHILIPPINE
OVERSEAS SHIPPING
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WHEREAS,
the government recognizes the important role of the shipping industry
in the economic development of the country;chanroblesvirtualawlibrary
WHEREAS, Presidential Decree No. 667 was promulgated with the objective
of providing incentives to the shipping industry by granting income tax
deductions to shippers who utilize Philippine flag vessels for their
shipments, which incentive is considered as an indirect assistance to
the said industry; and
WHEREAS, it is deemed more advantageous to and meaningful for said
shipping industry to be extended direct assistance instead of the
indirect type thus granted under the aforesaid decree.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
decree the following as part of the law of the land. chanroblesvirtualawlibrary
Section 1. The policies and objectives declared in
Presidential Decree No. 474 are reiterated herein and made an integral
part of this decree. In pursuance of such policies, the State shall
take all the steps necessary, including the provisions of direct
incentives to Philippine flag vessels and national shipping lines, to
enable them to carry a substantial and increasing share of the cargo
generated by Philippine foreign trade and to accelerate expansion and
modernization of the Philippine merchant fleet.
Section 2. In lieu of indirect incentives under P.D.
No. 667, the following are hereby adopted:cralaw:red
a. Vessels which are duly registered in the
Philippines and which are owned or controlled, or chartered by
Philippine nationals shall have at least equal shares as vessels of
another country in the carriage of international cargo between the
Philippines and other country.
b. Shipping lines of third-countries shall be
accorded opportunities to carry the balance of the international cargo
on such bilateral trade which cannot be carried by such vessels of the
Philippines and of the second country.
Section 3. The Maritime Industry Authority is
authorized and directed:cralaw:red
a. to study and devise means by which importers and
exporters of the Philippines can be induced to give preference to
vessels of Philippine registry and those owned or controlled, or
chartered by Philippine nationals, with assistance of other government
offices, agencies and instrumentalities as well as Philippine shipping
lines;chanroblesvirtualawlibrary
b. to recommend such measures as it may deem
necessary to the appropriate government authorities to implement the
policies and objectives herein set forth; chanroblesvirtualawlibrary
c. to promulgate appropriate rules and regulations
for the effective implementation of this decree; and
d. to observe as central coordinating agency in the
implementation of this decree.
Section 4. All laws, decrees, orders, rules and
regulations which are inconsistent with or contrary to the provisions
of this Decree are hereby repealed or modified accordingly.
Section 5. This Decree shall take effect upon its
approval. chanroblesvirtualawlibrary
Done in the City of Manila this
3rd day of October, in the year of Our Lord, nineteen hundred and
seventy-five.
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