EXECUTIVE ORDER NO. 880 March 4, 1983
DECLARING THE ESTABLISHMENT OF A COCONUT CHEMICAL INDUSTRY AS A MEANS TO RATIONALIZE THE COCONUT INDUSTRY OF THE PHILIPPINES AND GRANTING ADDITIONAL INCENTIVES THEREFOR
WHEREAS, part of the program of the Government is to rationalize the coconut industry to ensure its survival, viability and stability and thereby assure the consuming countries of an adequate and continuous supply at fair and reasonable prices of copra, coconut oil and their by-products.
WHEREAS, a major cause of the violent fluctuation of prices of coconut products is that coconut oil competes with other fats and oils, principally soybean oil, in the edible market;
WHEREAS, the violent fluctuation of prices has created undue hardships to a substantial segment of the citizenry who are directly or indirectly dependent on the coconut industry as their source of livelihood;
WHEREAS, it has been ascertained that one viable measure to minimize, if not eliminate, the violent fluctuation of prices of coconut oil is to induce the greater consumption of coconut oil in...
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Executive Orders
Declaring the Establishment of a Coconut Chemical Industry as a Means to Rationalize the Coconut Industry of the Philippines and Granting Additional Incentives Therefor
Executive Order No. 880
SUMMARY OF EXECUTIVE ORDER NO. 880
Declaring the Establishment of a Coconut Chemical Industry as a National Policy
- The establishment, operation and maintenance of a chemical process plant utilizing coconut oil as its principal raw material is declared vital to the national interest and part of the government's rationalization program for the coconut industry. (Section 1)
Granting of Assistance, Cooperation, Benefits, Incentives and Exemptions
- The government, its agencies and instrumentalities are instructed to extend all assistance, cooperation, benefits, incentives and exemptions to the fullest extent permitted to the Enterprise. (Section 2)
Tax Exemptions for Importation of Technology, Machinery, Equipment and Services
- The purchase abroad and importation into the Philippines by the Enterprise, and the sale by the foreign supplier/contractor of all required, necessary and useful technology, machinery, equipment and services for the establishment of the chemical process plant, are declared non-taxable events and totally exempt from any and all assessable taxes, including income tax, duties, levies, imposts and other similar charges, as well as the ad valorem duty imposed by Executive Order No. 860. (Section 3)
Granting of Additional Incentives
- The Board of Investments is directed to recommend to the President such other additional incentives to be granted to the Enterprise which will aid it in the full and effective implementation of the national policy. (Section 4)
Declaring the Establishment of a Coconut Chemical Industry as a National Policy
- The establishment, operation and maintenance of a chemical process plant utilizing coconut oil as its principal raw material is declared vital to the national interest and part of the government's rationalization program for the coconut industry. (Section 1)
Granting of Assistance, Cooperation, Benefits, Incentives and Exemptions
- The government, its agencies and instrumentalities are instructed to extend all assistance, cooperation, benefits, incentives and exemptions to the fullest extent permitted to the Enterprise. (Section 2)
Tax Exemptions for Importation of Technology, Machinery, Equipment and Services
- The purchase abroad and importation into the Philippines by the Enterprise, and the sale by the foreign supplier/contractor of all required, necessary and useful technology, machinery, equipment and services for the establishment of the chemical process plant, are declared non-taxable events and totally exempt from any and all assessable taxes, including income tax, duties, levies, imposts and other similar charges, as well as the ad valorem duty imposed by Executive Order No. 860. (Section 3)
Granting of Additional Incentives
- The Board of Investments is directed to recommend to the President such other additional incentives to be granted to the Enterprise which will aid it in the full and effective implementation of the national policy. (Section 4)