EXECUTIVE ORDER NO. 1047 August 7, 1985
Subject Matter : Encouraging Distant Water Fisheries by the Philippine Commercial Fishing Fleet.
Date of Effectivity : August 7, 1985
Details
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Executive Orders
Encouraging Distant Water Fisheries By the Philippine Commercial Fishing Fleet
Executive Order No. 1047
Summary of Executive Order No. 1047
Encouraging Distant Water Fisheries by the Philippine Commercial Fishing Fleet
- Objective: To encourage and promote the development of distant water fisheries by the Philippine commercial fishing fleet. (Section 1)
- Tax and Duty Exemptions:
• Philippine flag vessels engaged in distant water commercial fishing operations shall be exempt from the payment of all taxes and duties on fuel, equipment and supplies. (Section 2)
• The exemption shall apply to taxes and duties imposed by the national government, including import taxes and duties. (Section 2)
- Loan Assistance:
• The government shall provide loan assistance to qualified Philippine flag vessels engaged in distant water commercial fishing operations. (Section 3)
• The loan assistance shall be used for the acquisition, construction, and/or repair of fishing vessels, and the purchase of fishing equipment and supplies. (Section 3)
- Definition of Distant Water Commercial Fishing Operations:
• Distant water commercial fishing operations refer to fishing operations conducted in foreign fishing grounds beyond the territorial waters of the Philippines. (Section 4)
- Coverage:
• The incentives and benefits provided in this Executive Order shall apply to all Philippine flag vessels engaged in distant water commercial fishing operations. (Section 5)
- Implementation:
• The Secretary of Agriculture and Food shall promulgate the necessary rules and regulations to implement the provisions of this Executive Order. (Section 6)
Encouraging Distant Water Fisheries by the Philippine Commercial Fishing Fleet
- Objective: To encourage and promote the development of distant water fisheries by the Philippine commercial fishing fleet. (Section 1)
- Tax and Duty Exemptions:
• Philippine flag vessels engaged in distant water commercial fishing operations shall be exempt from the payment of all taxes and duties on fuel, equipment and supplies. (Section 2)
• The exemption shall apply to taxes and duties imposed by the national government, including import taxes and duties. (Section 2)
- Loan Assistance:
• The government shall provide loan assistance to qualified Philippine flag vessels engaged in distant water commercial fishing operations. (Section 3)
• The loan assistance shall be used for the acquisition, construction, and/or repair of fishing vessels, and the purchase of fishing equipment and supplies. (Section 3)
- Definition of Distant Water Commercial Fishing Operations:
• Distant water commercial fishing operations refer to fishing operations conducted in foreign fishing grounds beyond the territorial waters of the Philippines. (Section 4)
- Coverage:
• The incentives and benefits provided in this Executive Order shall apply to all Philippine flag vessels engaged in distant water commercial fishing operations. (Section 5)
- Implementation:
• The Secretary of Agriculture and Food shall promulgate the necessary rules and regulations to implement the provisions of this Executive Order. (Section 6)