Amending Presidential Decree No. 439 Providing For Tax Holidays For Overseas Filipinos As Contemplated In LOI No. 105, 163 And 210
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Amending Presidential Decree No. 439 Providing For Tax Holidays For Overseas Filipinos As Contemplated In LOI No. 105, 163 And 210
Presidential Decree No. 562
September 25, 1974
Case Overview and Summary
Summary of Presidential Decree No. 562Amending 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)
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Executive Issuances
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tax holiday
overseas Filipinos
customs duties exemption
personal effects exemption
household effects exemption
professional tools exemption
trade tools exemption
wearing apparel exemption
domestic animals exemption
settling in the Philippines
change of residence
bona fide
free entry
Letters of Instructions
former place of abode
vehicles exclusion
vessels exclusion
aircraft exclusion
machineries exclusion
manufacture exclusion
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Amending Presidential Decree No. 439 Providing For Tax Holidays For Overseas Filipinos As Contemplated In LOI No. 105, 163 And 210
Presidential Decree No. 562
•September 25, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 562 September 25, 1974
AMENDING PRESIDENTIAL DECREE NO. 439 PROVIDING FOR TAX HOLIDAYS FOR OVERSEAS FILIPINOS AS CONTEMPLATED IN LOI NO. 105, 163 AND 210
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
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;
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:
Section 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,...
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