Defining The Status Of, And Authorizing The Grant Of Tax Exemption And Other Privileges To, The Aquaculture Department Of The Southeast Asian Fisheries Development Center In The Philippines
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Defining The Status Of, And Authorizing The Grant Of Tax Exemption And Other Privileges To, The Aquaculture Department Of The Southeast Asian Fisheries Development Center In The Philippines
Presidential Decree No. 292
September 13, 1973
Case Overview and Summary
Summary of Presidential Decree No. 292Defining the Status and Authorizing Tax Exemptions for the SEAFDEC Aquaculture Department
- The Aquaculture Department of the Southeast Asian Fisheries Development Center (SEAFDEC) is exempt from the following taxes and fees (Section 1):
• Gift taxes
• Franchise taxes
• Specific taxes
• Percentage taxes
• Real property taxes
• All other taxes, duties, and fees under existing laws
• This exemption extends to goods imported and owned by the Department, and goods imported for personal use of foreign personnel paid by the Department.
- Gifts, bequests, donations, and contributions received by the Department are exempt from taxes under the National Internal Revenue Code, and are considered allowable deductions for the donor's income tax (Section 2).
- Non-Filipino citizens serving on the technical and scientific staff of the Department are exempt from paying income tax on salaries and stipends received for their service (Section 3).
- Aliens entering the Philippines to work for the Department are exempt from immigration restrictions and quotas, as necessary for the Department's operation, if they fall under the following categories (Section 4):
• Officials
• Instructors and researchers
• Trainees
• Spouses, children, or dependent relatives living in the same household as officials, instructors, or researchers.
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Defining The Status Of, And Authorizing The Grant Of Tax Exemption And Other Privileges To, The Aquaculture Department Of The Southeast Asian Fisheries Development Center In The Philippines
Presidential Decree No. 292
•September 13, 1973
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 292 September 13, 1973
DEFINING THE STATUS OF, AND AUTHORIZING THE GRANT OF TAX EXEMPTION AND OTHER PRIVILEGES TO, THE AQUACULTURE DEPARTMENT OF THE SOUTHEAST ASIAN FISHERIES DEVELOPMENT CENTER IN THE PHILIPPINES
WHEREAS, the Republic of the Philippines, on January 16, 1968, became a signatory to the Agreement establishing the Southeast Asian Fisheries Development Center (SEAFDEC);
WHEREAS, the SEAFDEC Council, at its Sixth Meeting held at Kuala Lumpur (Malaysia) on July 3-7, 1973, approved the formal establishment of its Aquaculture Department in the province of Iloilo, Philippines;
WHEREAS, the SEAFDEC Aquaculture Department is designed to promote research in aquaculture, especially in the production of prawns and shrimps, undertake the corresponding training programs for fisheries experts and technicians and disseminate information on fisheries research and development for SEAFDEC member countries in Southeast Asia;
WHEREAS, the establishment of the SEAFDEC Aquaculture Department in the Philippines will directly and immediately stimulate the development of the fisheries industry in the country, as well as in neighboring nations in Southeast Asia....
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