Presidential Decree No. 440 (PD 440) — Further Amending Section 105 of the Tariff and Customs Code of the Philippines, as Amended, Exempting Importations of Aircraft for Agricultural Purposes, Spare Parts and Accessories Thereof from Customs Duty
WHEREAS, the Philippines is endowed with rich agricultural
lands which need immediate development for food production;
WHEREAS, the Government is providing all possible
incentives to further encourage investors to develop our vast
agricultural resources;
WHEREAS, the use by agro-Industrial entities and farmers of
aircraft for agricultural purposes will hasten and maximize the
development of our agricultural resources and increase production; and
WHEREAS, incentives to encourage development of mineral
resources already include the exemption from customs duties of aircraft
imported for the development and exploitation of mineral resources while
the incentives for agricultural development do not include this kind of
exemption;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby amend Section 105 of the Tariff and Customs Code, as amended,
to wit:
SECTION 1. Section One Hundred Five of Republic Act Numbered
One Thousand Nine Hundred Thirty-seven, otherwise known as the ''Tariff
and Customs Code of the Philippines," is further amended by amending
paragraph "(v)" to read as follows:
"SEC. 105. Conditionally Free Importations. —
x x x
"(v) Machineries, equipment, tools for production, plants to
convert mineral ores into saleable form, spare parts, supplies,
materials, accessories, explosives, chemicals, and transportation and
communication facilities imported by and for the use of new mines and
old mines which resume operations, when certified to as such by the
Secretary of Agriculture and Natural Resources upon the recommendation
of the Director of Mines, for a period ending five (5) years from the
first date of actual commercial production of saleable mineral products:
Provided, That such articles are not locally available in reasonable
quantity, quality and price and are necessary or incidental in the
proper operation of the mine; and aircrafts imported by agro-industrial
companies to be used by them in their agricultural and industrial
operations or activities, spare parts and accessories thereof."
SEC. 2. All laws, decrees, orders, rules and regulations
inconsistent herewith are hereby repealed and/or modified accordingly.
SEC. 3. This Decree is hereby made part of the law of the
land and shall take effect immediately.
Done in the City of Manila, this 22nd day of April, in the year of
Our Lord, nineteen hundred and seventy-four.
(Sgd.) FERDINAND E.
MARCOS
President
Republic of the Philippines
By the President:
(Sgd.) ALEJANDRO
MELCHOR
Executive Secretary
Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).
