Tax Exemption on Breeding Stocks and Genetic Materials.
Section 27
SEC. 27. Tax Exemption on Breeding Stocks and Genetic Materials.—The importation of breeding stocks and genetic materials within five (5) years from date of registration or commercial operation of the enterprise shall be exempt from all taxes and duties; Provided, That such breeding stocks and genetic materials are (1) not locally available and/or not obtainable locally in comparable quality and at reasonable prices; (2) reasonably needed in the registered activity; and (3) approved by the Board.