EXECUTIVE ORDER NO. 1064 November 13, 1985
IMPLEMENTING THE COCONUT PRODUCTIVITY PROGRAM
WHEREAS, an accelerated coconut productivity program involving the use of high-yielding and precocious coconut hybrid varieties is imperative if we are to ensure the survival, growth and viability of the coconut industry.
WHEREAS, in view of its limited resources, the Government is constrained to mobilize the private sector and to call on private investors to contribute in this national endeavor to increase coconut productivity;
WHEREAS, to encourage the private sector to participate actively in this undertaking, necessary tax and fiscal incentives in addition to those provided by existing laws, including among others P.D. 1789, Title VII, Article 57, should be granted to persons or entities that engage in coconut planting/replanting program on a commercial scale:
NOW, THEREFORE, by virtue of the powers vested in me by the Constitution and the law, I, FERDINAND E. MARCOS, President of the Philippines, do hereby order the following:
Sec. 1. The Philippine Coconut Authority (PCA) is hereby directed to immediately formulate...
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Executive Orders
Implementing the Coconut Productivity Program
Executive Order No. 1064
Summary of Executive Order No. 1064
Accelerated Coconut Productivity Program
- The Philippine Coconut Authority (PCA) is directed to formulate and implement an accelerated coconut hybrid planting and replanting program aimed at increasing farm productivity. (Section 1)
- The program shall involve approximately 30,000 hectares per annum and prioritize devastated areas in Visayas and Mindanao initially. (Section 1)
- The program shall be financed by collections from the basic export duty on coconut products and additional funding from general revenues. (Section 2)
Incentives for Private Sector Participation
- Financial assistance is granted to any person or entity engaging in a project for planting or replanting with high-yielding and precocious coconut planting materials. (Section 3)
- Project guidelines:
- Prepared in accordance with the approved farm developmental plan. (Section 3.1)
- Commit to full development, including 4-year maintenance and infrastructure. (Section 3.2)
- Fully implemented within 7 years from plan approval. (Section 3.3)
Incentives and Benefits:
- Tax credits or duty rebates for export duties paid, equal to the amount invested in the project or program. (Section 4.1)
- Tax credit certificates issued by the Ministry of Finance upon PCA certification.
- Tax credits valid for 10 years and negotiable.
- Refund in lieu of tax credit, issued by the Ministry of Finance upon PCA certification. (Section 4.2)
- Refund limited to the amount invested and within 4 years from planting or 7 years from eligibility.
- Import duty exemptions for machinery, equipment, and spare parts for the project. (Section 4.3)
- Exemption from donor's and donee's taxes for contributions to the program or project. (Section 4.4)
- Exemption from real property taxes for 10 years on lands, improvements, machinery, and equipment in the project. (Section 4.5)
Penalties and Repeals
- Failure to complete the project within the specified period results in forfeiture of incentives and benefits. (Section 5)
- Violations are punishable under Section 1, Article IV of Presidential Decree No. 1468, as amended. (Section 6)
- Inconsistent laws, orders, and regulations are repealed, amended, or modified accordingly, except those implementing Presidential Decree No. 1960 and Presidential Decree No. 1468, as amended. (Section 7)
Accelerated Coconut Productivity Program
- The Philippine Coconut Authority (PCA) is directed to formulate and implement an accelerated coconut hybrid planting and replanting program aimed at increasing farm productivity. (Section 1)
- The program shall involve approximately 30,000 hectares per annum and prioritize devastated areas in Visayas and Mindanao initially. (Section 1)
- The program shall be financed by collections from the basic export duty on coconut products and additional funding from general revenues. (Section 2)
Incentives for Private Sector Participation
- Financial assistance is granted to any person or entity engaging in a project for planting or replanting with high-yielding and precocious coconut planting materials. (Section 3)
- Project guidelines:
- Prepared in accordance with the approved farm developmental plan. (Section 3.1)
- Commit to full development, including 4-year maintenance and infrastructure. (Section 3.2)
- Fully implemented within 7 years from plan approval. (Section 3.3)
Incentives and Benefits:
- Tax credits or duty rebates for export duties paid, equal to the amount invested in the project or program. (Section 4.1)
- Tax credit certificates issued by the Ministry of Finance upon PCA certification.
- Tax credits valid for 10 years and negotiable.
- Refund in lieu of tax credit, issued by the Ministry of Finance upon PCA certification. (Section 4.2)
- Refund limited to the amount invested and within 4 years from planting or 7 years from eligibility.
- Import duty exemptions for machinery, equipment, and spare parts for the project. (Section 4.3)
- Exemption from donor's and donee's taxes for contributions to the program or project. (Section 4.4)
- Exemption from real property taxes for 10 years on lands, improvements, machinery, and equipment in the project. (Section 4.5)
Penalties and Repeals
- Failure to complete the project within the specified period results in forfeiture of incentives and benefits. (Section 5)
- Violations are punishable under Section 1, Article IV of Presidential Decree No. 1468, as amended. (Section 6)
- Inconsistent laws, orders, and regulations are repealed, amended, or modified accordingly, except those implementing Presidential Decree No. 1960 and Presidential Decree No. 1468, as amended. (Section 7)