Amending Presidential Decree No. 439 Providing For Tax Holidays For Overseas Filipinos As Contemplated In LOI No. 105, 163 And 210

Case Overview and Summary

Summary of Presidential Decree No. 562

Amending Presidential Decree No. 439 to Provide Tax Holidays for Overseas Filipinos

- Extends the temporary tax holiday benefits under Presidential Decree No. 439 up to February 29, 1976 (Section 1)
- Exempts the following items from customs duties and taxes for Overseas Filipinos coming to settle in the Philippines or Filipinos and their families/descendants who are residents or citizens of other countries, provided they arrive not later than February 29, 1976 (Section 1):
    - Professional instruments and implements
    - Tools of trade, occupation or employment
    - Wearing apparel
    - Domestic animals
    - Personal and household effects
- The exemption applies to quantities and classes suitable to the profession, rank or position of the person importing them, for their own use and not for barter or sale (Section 1)
- The items must accompany the person or arrive within a reasonable time before or after the arrival of the owner, as determined by the Collector of Customs (Section 1)
- Evidence must be provided to the Collector of Customs that the person is actually coming to settle in the Philippines, the change of residence is bona fide, and the privilege of free entry was never granted under Letters of Instructions Nos. 105, 163 and 210 (Section 1)
- The items must be brought from the former place of abode (Section 1)
- Excludes vehicles, vessels, aircraft, machineries and other similar articles for use in manufacture from the exemption (Section 1)