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

• Number: Presidential Decree No. 440
• Sections: 4

Preamble

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 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."

Section 2

SEC. 2. All laws, decrees, orders, rules and regulations

inconsistent herewith are hereby repealed and/or modified accordingly.

Section 3

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