Further Amending The Fiscal Incentives Administered By The Board Of Investments
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Further Amending The Fiscal Incentives Administered By The Board Of Investments
Presidential Decree No. 1584
June 11, 1978
Case Overview and Summary
Summary of Presidential Decree No. 1584Amendments to the Fiscal Incentives Administered by the Board of Investments
- Allows the President to liberalize incentives for particular firms or specific industries in meritorious cases, by: (Section 1)
- Extending the period of availment of incentives, which may be enjoyed only for a limited period. (Section 1q(1))
- Increasing the rates of tax exemptions prescribed for enterprises registered with the Board. (Section 1q(2))
- Allows the President to eliminate, reduce or suspend the enjoyment of any tax incentives administered by the Board of Investments in the interest of general welfare and development, provided that such reduction shall not affect firms previously registered or approved by the Board prior to such reduction. (Section 1r)
- Amends the definition of "Registered Export Trader" to mean any person, corporation, partnership or other entities organized and existing under Philippine laws that are: (1) registered with the Board in accordance with Republic Act No. 6135, and (2) engaged or proposing to engage in the sale abroad of export products bought by it from one or more export producers. (Section 2)
- Provides that export producers and export traders registered with the Board of Investments shall be automatically registered with the Philippine Export Council for the sales tax incentives granted to export transactions of producers and traders registered with that Council under Presidential Decree No. 1469. (Section 3)
- Repeals or modifies any and all laws, decrees, rules and regulations or parts thereof inconsistent with this Decree. (Section 4)
- Takes effect immediately upon approval. (Section 5)
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Executive Issuances
Presidential Decrees
Board of Investments
fiscal incentives
tax exemptions
export producers
export traders
Philippine Export Council
sales tax incentives
meritorious cases
national socio-economic development
general welfare
national security
liberalize incentives
extend period of availment
increase tax exemption rates
eliminate incentives
reduce incentives
suspend incentives
registered firms
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Further Amending The Fiscal Incentives Administered By The Board Of Investments
Presidential Decree No. 1584
•June 11, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1584
FURTHER AMENDING THE FISCAL INCENTIVES ADMINISTERED BY THE BOARD OF INVESTMENTS
WHEREAS, the incentives granted by the Board of Investments under Republic Act No. 5186, Republic Act No. 6135 and Presidential Decree No. 1159, as amended, are subject to certain limitations in period of availment as well as rates of tax exemptions prescribed therein, or imposed by other laws;
WHEREAS, there are meritorious cases of particular firms/specific industries contributing to the national economy and general welfare for which continuation of incentives beyond the prescribed availment period or higher rates of tax exemptions may be necessary; and
WHEREAS, some incentives may from time to time need to be altered or modified in order to make them more responsive to encourage investments in desirable business activities and to the needs of the economy;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following:
Section 1. Section 15 of Republic...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
Board of Investments
fiscal incentives
tax exemptions
export producers
export traders
Philippine Export Council
sales tax incentives
meritorious cases
national socio-economic development
general welfare
national security
liberalize incentives
extend period of availment
increase tax exemption rates
eliminate incentives
reduce incentives
suspend incentives
registered firms
approved firms
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1584
FURTHER AMENDING THE FISCAL INCENTIVES ADMINISTERED BY THE BOARD OF INVESTMENTS
WHEREAS, the incentives granted by the Board of Investments under Republic Act No. 5186, Republic Act No. 6135 and Presidential Decree No. 1159, as amended, are subject to certain limitations in period of availment as well as rates of tax exemptions prescribed therein, or imposed by other laws;
WHEREAS, there are meritorious cases of particular firms/specific industries contributing to the national economy and general welfare for which continuation of incentives beyond the prescribed availment period or higher rates of tax exemptions may be necessary; and
WHEREAS, some incentives may from time to time need to be altered or modified in order to make them more responsive to encourage investments in desirable business activities and to the needs of the economy;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following:
Section 1. Section 15 of Republic...
Login to see full content