REPUBLIC ACT NO. 1410
AN ACT TO PROHIBIT THE SO-CALLED "NO-DOLLAR" IMPORTS EXCEPT UNDER CERTAIN CONDITIONS.
Section 1. No importation into the Philippines under the so-called "no-dollar remittance" shall be allowed except:
(a) Subject to tariff and internal revenue laws, machineries, equipments, their accessories, and capital goods except raw materials imported by persons engaged in dollar-producing and dollar-saving industries as certified by the Secretary of Commerce and Industry when the said machineries, equipments, their accessories and capital goods are needed and will be used in such industries: Provided, That the repatriation of the dollar value of said capital investments shall not be allowed except when authorized by the President who shall take into consideration the level of our dollar reserves.
(b) Commodities of a value not exceeding ten thousand pesos which are being imported for the personal use of the person or family importing them, as well as gifts sent from abroad through the post office, of an aggregate value of not more than five hundred pesos unless there is evidence of...
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Republic Acts
AN ACT TO PROHIBIT THE SO-CALLED ''NO-DOLLAR'' IMPORTS EXCEPT UNDER CERTAIN CONDITIONS.
Republic Act No. 1410
Summary of Republic Act No. 1410
Prohibition on "No-Dollar" Imports Except Under Certain Conditions
- Defines "no-dollar remittance" imports as goods imported without foreign exchange allocation from the Central Bank of the Philippines. (Section 2)
- Allows the following exceptions to the prohibition:
• Machineries, equipment, accessories, and capital goods (except raw materials) imported by dollar-producing and dollar-saving industries, as certified by the Secretary of Commerce and Industry, subject to tariff and internal revenue laws. Repatriation of the dollar value is not allowed except when authorized by the President, considering the dollar reserves level. (Section 1a)
• Commodities worth up to 10,000 pesos for personal use or gifts sent through the post office up to 500 pesos per gift, once every six months, unless there is evidence of abuse. For Filipino residents abroad, gifts up to 500 pesos each, once a month, but not exceeding 5,000 pesos in total. (Section 1b)
• Commodities brought by a person returning to the Philippines, not for commercial purposes, up to 5,000 pesos in value, unless there is evidence of abuse, and granted only once a year. (Section 1c)
• Commodities imported on a straight barter basis in exchange for exported goods, when authorized by the Secretary of Commerce and Industry. (Section 1d)
• Cloths imported on consignment basis for embroidery in the country and re-exported, subject to a bond to ensure re-exportation and rules by the Department of Commerce and Industry. (Section 1e)
- Imports exceeding the authorized amounts under Sections 1b, 1c, and 1d are subject to seizure and confiscation. (Section 1f)
- Violations are subject to seizure and confiscation of imported articles without the right of redemption or release under bond. (Section 3)
- Willful violation of Section 1a is punishable by imprisonment of up to one year, in addition to the penalty under Section 3. (Section 4)
- The Department of Commerce and Industry is empowered to implement the Act and issue necessary rules and regulations. (Section 5)
- Repeals existing laws, executive orders, and administrative regulations contrary to the Act, but does not allow the importation of articles prohibited by existing laws, such as virginia leaf tobacco, onions, garlic, potatoes, and cabbages. (Section 6)
- Took effect upon approval on September 10, 1955. (Section 7)
Prohibition on "No-Dollar" Imports Except Under Certain Conditions
- Defines "no-dollar remittance" imports as goods imported without foreign exchange allocation from the Central Bank of the Philippines. (Section 2)
- Allows the following exceptions to the prohibition:
• Machineries, equipment, accessories, and capital goods (except raw materials) imported by dollar-producing and dollar-saving industries, as certified by the Secretary of Commerce and Industry, subject to tariff and internal revenue laws. Repatriation of the dollar value is not allowed except when authorized by the President, considering the dollar reserves level. (Section 1a)
• Commodities worth up to 10,000 pesos for personal use or gifts sent through the post office up to 500 pesos per gift, once every six months, unless there is evidence of abuse. For Filipino residents abroad, gifts up to 500 pesos each, once a month, but not exceeding 5,000 pesos in total. (Section 1b)
• Commodities brought by a person returning to the Philippines, not for commercial purposes, up to 5,000 pesos in value, unless there is evidence of abuse, and granted only once a year. (Section 1c)
• Commodities imported on a straight barter basis in exchange for exported goods, when authorized by the Secretary of Commerce and Industry. (Section 1d)
• Cloths imported on consignment basis for embroidery in the country and re-exported, subject to a bond to ensure re-exportation and rules by the Department of Commerce and Industry. (Section 1e)
- Imports exceeding the authorized amounts under Sections 1b, 1c, and 1d are subject to seizure and confiscation. (Section 1f)
- Violations are subject to seizure and confiscation of imported articles without the right of redemption or release under bond. (Section 3)
- Willful violation of Section 1a is punishable by imprisonment of up to one year, in addition to the penalty under Section 3. (Section 4)
- The Department of Commerce and Industry is empowered to implement the Act and issue necessary rules and regulations. (Section 5)
- Repeals existing laws, executive orders, and administrative regulations contrary to the Act, but does not allow the importation of articles prohibited by existing laws, such as virginia leaf tobacco, onions, garlic, potatoes, and cabbages. (Section 6)
- Took effect upon approval on September 10, 1955. (Section 7)