Collection and Administration.
Section 3
SEC. 3. Collection and Administration.—The Philippine Coconut Authority shall effect collection of the assessable payments under such rules and regulations as it may prescribe from each exporter under the procedure presently followed in the collection of the CCSF levy and subject to adjustment on the basis of outturn reports submitted to, and audited by the Central Bank. The amount thus collected shall be deposited, owned and administered in accordance with provisions of P.D. 1468, provided that the Committee of Developmental Projects shall allocate the collections among the different developmental projects for the benefit of the coconut farmers. Any amount paid by an exporter shall be considered as a necessary business expense as part of its cost of operations and shall, to that extent, be allowed as a tax deductible expense and exempt from the donor's tax.