Providing Exemption For The Payment Of Customs And Tariff Duties, Special Import Tax And Compensating Tax Covering Importation Of Sugar Mills, Machinery, Spare Parts And Equipment For A Lim
Download as PDF
Download as Word
Collections
Create new Collection
Overview
Full Text
Details
Case
Agency Issuance Number
Published Date
Providing Exemption For The Payment Of Customs And Tariff Duties, Special Import Tax And Compensating Tax Covering Importation Of Sugar Mills, Machinery, Spare Parts And Equipment For A Lim
Presidential Decree No. 791
September 3, 1975
Case Overview and Summary
Summary of Presidential Decree No. 791Exemption from Customs and Tariff Duties for Sugar Mills and Equipment
- Any person, partnership, company or corporation engaged in manufacturing, milling, processing or refining of sugar is exempted from paying special import tax, compensating tax, and customs and tariff duties on importation of plant machinery, spare parts and other equipment needed for sugar production. (Section 1)
- The exemption is effective from the approval of the decree until June 30, 1980. (Section 6)
- The exemption covers only machinery, spare parts and equipment directly needed and used exclusively for sugar production, and the shipping documents must be in the name of the tax-exempt firm. (Section 2)
- Violators face imprisonment of 5-10 years, fine of P10,000-P200,000, and forfeiture of exemption plus payment of taxes/duties due. (Section 3)
- Government officials conniving with violators face the same penalties. (Section 3)
- Firms cannot avail of this exemption and another similar exemption simultaneously. (Section 4)
- Inconsistent laws, orders, rules are repealed or modified accordingly. (Section 5)
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
sugar mills
sugar industry
customs duties exemption
tariff duties exemption
import tax exemption
compensating tax exemption
machinery importation
equipment importation
spare parts importation
sugar production
sugar manufacturing
sugar milling
sugar processing
sugar refining
penalties for violation
imprisonment
fines
forfeiture of exemption
tax evasion
government officials connivance
Law
Providing Exemption For The Payment Of Customs And Tariff Duties, Special Import Tax And Compensating Tax Covering Importation Of Sugar Mills, Machinery, Spare Parts And Equipment For A Lim
Presidential Decree No. 791
•September 3, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 791 September 3, 1975
PROVIDING EXEMPTION FOR THE PAYMENT OF CUSTOMS AND TARIFF DUTIES, SPECIAL IMPORT TAX AND COMPENSATING TAX COVERING IMPORTATION OF SUGAR MILLS, MACHINERY, SPARE PARTS AND EQUIPMENT FOR A LIMITED PERIOD
WHEREAS, the sugar industry contributes a very sizeable amount in the foreign exchange earnings of the country during the past years prompting the government to encourage more production of sugarcane and the establishment of new sugar mills to further increase the production of sugar to supply the traditional as well as the new foreign markets;
WHEREAS, the current cost of sugar mills, machinery and equipment has multiplied to about two and a half times of the cost of sugar mills in the late 1960's and early 1970's due to worldwide inflation which correspondingly increased the financial requirements of the sugar industry;
WHEREAS, all the new sugar mills are being financed by government financial institutions and, therefore, in the event of collapse of its operations by reason of official problems resulting from high...
Login to see full content
Amends
n/a
Amended by
n/a