DEFINING THE STATUS OF, AND AUTHORIZING THE GRANT OF TAX EXEMPTION AND OTHER PRIVILEGES TO, THE AQUACULTURE DEPARTMENT OF THE SOUTHEAST ASIAN FISHERIES DEVELOPMENT CENTER IN THE PHILIPPINES.

• Number: Presidential Decree No. 292
• Sections: 6

Preamble

WHEREAS, the Republic of the Philippines, on January 16,

1968, became a signatory to the Agreement establishing the Southeast Asian

Fisheries Development Center (SEAFDEC);

WHEREAS, the SEAFDEC Council, at its Sixth Meeting held at

Kuala Lumpur (Malaysia) on July 3-7, 1973, approved the formal establishment of

its Aquaculture Department in the Province of Iloilo, Philippines;

WHEREAS, the SEAFDEC Aquaculture Department is designed to

promote research in aquaculture, especially in the production of prawns and

shrimps, undertake the corresponding training programs for fisheries experts and

technicians, and disseminate information on fisheries research and development

for SEAFDEC member-countries in Southeast Asia; and

WHEREAS, the establishment of the SEAFDEC Aquaculture

Department in the Philippines will directly and immediately stimulate the

development of the Fisheries industry in the country, as well as in neighboring

nations in Southeast Asia;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the

Philippines, by virtue of the powers vested in me by the Constitution as

Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to

Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated

September 22, 1972, do hereby decree, order and make as part of the law of the

land the following measure:

Section 1

SECTION 1. The provisions of existing laws, decrees or

ordinances to the contrary notwithstanding, the Aquaculture Department of the

Southeast Asian Fisheries Development Center shall be exempt from the payment of

gift, franchise, specific, percentage, real property and all other taxes, duties

and fees provided under existing laws, decrees or ordinances. This

exemption shall extend to goods imported and owned by the said Aquaculture

Department and to goods brought in or imported for the personal use of foreign

personnel whose services are paid by the said Aquaculture Department: Provided,

however, That this exemption is without prejudice to the collection of customs

duties and taxes on goods or articles brought or imported into the Philippines

for the use of such foreign personnel should such goods or articles subsequently

be sold, transferred or exchanged in the Philippines to persons or entities not

entitled to exemption from said customs duties and taxes pursuant to existing

laws and regulations governing the matter.

Section 2

SEC. 2. All gifts, bequests, donations and contributions

which may be received by the said Aquaculture Department from any source

whatsoever shall be exempt from the payment of taxes imposed under the National

Internal Revenue Code and all such gifts, bequests, donations and contributions

shall be considered as allowable deduction for purposes of determining the

income tax payable by the donor. All funds received by the Department shall be

receipted and disbursed in accordance with the Agreement establishing the

Southeast Asian Fisheries Development Center and pertinent resolutions duly

approved by the SEAFDEC Council.

Section 3

SEC. 3. Non-Filipino citizens serving on the technical and

scientific staff of the SEAFDEC Aquaculture Department shall be exempted from

the payment of income tax on salaries and stipends received solely and by reason

of service rendered to the Department.

Section 4

SEC. 4. Aliens who enter the Philippines to perform their

work for the SEAFDEC Aquaculture Department shall be exempt from restrictions

imposed on immigration and other pertinent laws with respect to quota of

immigrants and duration of stay in the Philippines, as may be necessary for the

operation of the SEAFDEC Aquaculture Department, so long as they fall under the

following status:

officials;

instructors and researchers;

trainees;

spouses, children or relatives who are dependent on the forming part of the

household of, those in (1) and (2).

Section 5

SEC. 5. Effectivity — This Decree shall take effect

immediately.

Done in the City of Manila, this 13th day of September, in the year of Our

Lord, nineteen hundred and seventy-three.

(Sgd.) FERDINAND E. MARCOS

President

Republic of the Philippines

By the President:

(Sgd.) ROBERTO V. REYES

Assistant Executive Secretary