MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1475
DEFINING THE STATUS OF THE ASIAN INSTITUTE OF AQUACULTURE AND APPROPRIATING FUNDS FOR THE PURPOSE.
WHEREAS, the Republic of the Philippines, on January 16, 1868, become 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 Council of Directors, being aware of the vast potential of Southeast Asia and other regions for aquaculture development, and cognizant of the urgent need of the region and other parts of the world for highly trained manpower for aquaculture development, approved at its Tenth Meeting held in Manila on December 5-10, 1977, the development and implementation of the proposed Asia Institute of Aquaculture as a unit of the SEAFDEC Aquaculture Department of Iloilo, Philippines;
WHEREAS, the establishment of the Asian Institute of Aquaculture will provide mechanism...
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Presidential Decrees
Defining The Status Of The Asian Institute Of Aquaculture And Appropriating Funds For The Purpose.
Presidential Decree No. 1475
Summary of Presidential Decree No. 1475
Defining the Status of the Asian Institute of Aquaculture
- Section 1: The Asian Institute of Aquaculture is classified as a foreign institution of special character, with an international student body, faculty, management composition, and control.
- Section 2: The Institute is exempt from the following taxes, duties, and fees:
- Gift tax
- Franchise tax
- Specific tax
- Percentage tax
- Real property tax
- All other taxes, duties, and fees under existing laws
- This exemption extends to goods imported and owned by the Institute and goods brought in for personal use of foreign faculty, staff, and officials.
- However, customs duties and taxes must be paid if such goods are subsequently sold, transferred, or exchanged in the Philippines to non-exempt entities or persons.
- Section 3: All gifts, bequests, donations, and contributions received by the Institute are exempt from taxes imposed under the National Internal Revenue Code and other existing laws, and shall be considered as allowable deductions for determining the income tax payable by the donor.
- All funds received by the Institute shall be receipted and disbursed in accordance with the Agreement establishing the Southeast Asian Fisheries Development Center (SEAFDEC) and pertinent resolutions approved by the SEAFDEC Council.
- Section 4: Non-Filipino citizens serving on the faculty and professional staff of the Institute are exempted from paying income tax on salaries and stipends received from the Institute and other donor organizations.
- Section 5: Aliens entering the Philippines to work or study at the Institute are exempt from immigration restrictions and quota on immigrants and duration of stay, as necessary for the operation of the Institute, if they fall under the following status:
- Officials
- Instructors and researchers
- Trainees
- Spouses, children, or relatives who are dependents and part of the household of officials, instructors, and researchers.
- Section 6: An appropriation of 10 million Philippine Pesos is made from the National Treasury for the Institute's capital outlay requirements and local operating costs for Calendar Year 1978.
- Thereafter, an annual contribution of 5 million Philippine Pesos is appropriated for the Institute for a period of five years, beginning Calendar Year 1979.
- Section 7: This Decree takes effect immediately.
Defining the Status of the Asian Institute of Aquaculture
- Section 1: The Asian Institute of Aquaculture is classified as a foreign institution of special character, with an international student body, faculty, management composition, and control.
- Section 2: The Institute is exempt from the following taxes, duties, and fees:
- Gift tax
- Franchise tax
- Specific tax
- Percentage tax
- Real property tax
- All other taxes, duties, and fees under existing laws
- This exemption extends to goods imported and owned by the Institute and goods brought in for personal use of foreign faculty, staff, and officials.
- However, customs duties and taxes must be paid if such goods are subsequently sold, transferred, or exchanged in the Philippines to non-exempt entities or persons.
- Section 3: All gifts, bequests, donations, and contributions received by the Institute are exempt from taxes imposed under the National Internal Revenue Code and other existing laws, and shall be considered as allowable deductions for determining the income tax payable by the donor.
- All funds received by the Institute shall be receipted and disbursed in accordance with the Agreement establishing the Southeast Asian Fisheries Development Center (SEAFDEC) and pertinent resolutions approved by the SEAFDEC Council.
- Section 4: Non-Filipino citizens serving on the faculty and professional staff of the Institute are exempted from paying income tax on salaries and stipends received from the Institute and other donor organizations.
- Section 5: Aliens entering the Philippines to work or study at the Institute are exempt from immigration restrictions and quota on immigrants and duration of stay, as necessary for the operation of the Institute, if they fall under the following status:
- Officials
- Instructors and researchers
- Trainees
- Spouses, children, or relatives who are dependents and part of the household of officials, instructors, and researchers.
- Section 6: An appropriation of 10 million Philippine Pesos is made from the National Treasury for the Institute's capital outlay requirements and local operating costs for Calendar Year 1978.
- Thereafter, an annual contribution of 5 million Philippine Pesos is appropriated for the Institute for a period of five years, beginning Calendar Year 1979.
- Section 7: This Decree takes effect immediately.