Providing For Direct Incentives For The Development Of Philippine Overseas Shipping
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Providing For Direct Incentives For The Development Of Philippine Overseas Shipping
Presidential Decree No. 806
October 3, 1975
Case Overview and Summary
PRESIDENTIAL DECREE No. 806Objectives and Policies:
- Reiterate the policies and objectives declared in Presidential Decree No. 474 to enable Philippine flag vessels and national shipping lines to carry a substantial and increasing share of cargo generated by Philippine foreign trade and accelerate expansion and modernization of the Philippine merchant fleet. (Section 1)
Direct Incentives:
- Vessels registered in the Philippines and owned, controlled, or chartered by Philippine nationals shall have at least equal shares as vessels of another country in the carriage of international cargo between the Philippines and that other country. (Section 2a)
- Shipping lines of third countries shall be accorded opportunities to carry the balance of international cargo on bilateral trade that cannot be carried by Philippine and the second country's vessels. (Section 2b)
Responsibilities of the Maritime Industry Authority:
- Study and devise means to induce importers and exporters to give preference to Philippine-registered vessels and those owned, controlled, or chartered by Philippine nationals, with assistance from other government agencies and Philippine shipping lines. (Section 3a)
- Recommend necessary measures to implement the policies and objectives to appropriate government authorities. (Section 3b)
- Promulgate appropriate rules and regulations for effective implementation. (Section 3c)
- Observe as the central coordinating agency in the implementation. (Section 3d)
Repealing Clause:
- All laws, decrees, orders, rules, and regulations inconsistent with or contrary to this Decree are repealed or modified accordingly. (Section 4)
Effectivity:
- This Decree shall take effect upon its approval. (Section 5)
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Executive Issuances
Presidential Decrees
Philippine overseas shipping
Direct incentives
Philippine flag vessels
National shipping lines
International cargo
Maritime Industry Authority
Importers and exporters
Preference for Philippine vessels
Rules and regulations
Implementation
Repealing clause
Effectivity
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Providing For Direct Incentives For The Development Of Philippine Overseas Shipping
Presidential Decree No. 806
•October 3, 1975
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 806 October 3, 1975
PROVIDING FOR DIRECT INCENTIVES FOR THE DEVELOPMENT OF PHILIPPINE OVERSEAS SHIPPING
WHEREAS, the government recognizes the important role of the shipping industry in the economic development of the country;
WHEREAS, Presidential Decree No. 667 was promulgated with the objective of providing incentives to the shipping industry by granting income tax deductions to shippers who utilize Philippine flag vessels for their shipments, which incentive is considered as an indirect assistance to the said industry; and
WHEREAS, it is deemed more advantageous to and meaningful for said shipping industry to be extended direct assistance instead of the indirect type thus granted under the aforesaid decree.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree the following as part of the law of the land.
Section 1. The policies and objectives declared in Presidential Decree No. 474 are reiterated herein and made an integral part of this decree. In pursuance...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
Philippine overseas shipping
Direct incentives
Philippine flag vessels
National shipping lines
International cargo
Maritime Industry Authority
Importers and exporters
Preference for Philippine vessels
Rules and regulations
Implementation
Repealing clause
Effectivity
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 806 October 3, 1975
PROVIDING FOR DIRECT INCENTIVES FOR THE DEVELOPMENT OF PHILIPPINE OVERSEAS SHIPPING
WHEREAS, the government recognizes the important role of the shipping industry in the economic development of the country;
WHEREAS, Presidential Decree No. 667 was promulgated with the objective of providing incentives to the shipping industry by granting income tax deductions to shippers who utilize Philippine flag vessels for their shipments, which incentive is considered as an indirect assistance to the said industry; and
WHEREAS, it is deemed more advantageous to and meaningful for said shipping industry to be extended direct assistance instead of the indirect type thus granted under the aforesaid decree.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree the following as part of the law of the land.
Section 1. The policies and objectives declared in Presidential Decree No. 474 are reiterated herein and made an integral part of this decree. In pursuance...
Login to see full content