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PRESIDENTIAL DECREE NO. 990
PRESIDENTIAL DECREE NO. 990 -
RESTORING THE TAX EXEMPTION GRANTED TO THE PHILIPPINE COMMUNICATIONS
SATELLITE CORPORATION (PHILCOMSAT) UNDER REPUBLIC ACT NO. 5514
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WHEREAS,
the Philcomsat has been designated to represent the Philippines in the
International Telecommunications Organization (INTELSAT); chanroblesvirtualawlibrary
WHEREAS, in support of its operations, the Philcomsat was exempted from
the payment of customs duties, tariffs and other charges on
machineries, equipments, supplies and spare parts imported for the
construction and maintenance of its earth stations from the time of its
organization;chanroblesvirtualawlibrary
WHEREAS, all tax exemptions including those granted to Philcomsat were
abrogated under Presidential Decree No. 34, amending the Tariff and
Customs Code; and
WHEREAS, there is a need to further support the operation of the
Philcomsat to keep this country abreast with the rapid development of
international communications;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. Any provision of law, decree, rules and
regulations to the contrary notwithstanding, the tax exemptions granted
to the Philippine Communications Satellite Corporation under Republic
Act No. 5514 is hereby restored.
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 31st day of August, in the year of Our Lord, nineteen hundred and
seventy-six.
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