Tax Treatment of Professional Instruments, Equipment and Accessories of International Media Participants for the 2012 Annual Meeting of the Asian Development Bank (ADB) Board of Governors

March 8, 2012 DOF MEMORANDUM TO : Commissioner Rozzano Rufino B. Biazon Bureau of Customs RE : Tax Treatment of Professional Instruments, Equipment and Accessories of International Media Participants for the 2012 Annual Meeting of the Asian Development Bank (ADB) Board of Governors In connection with the forthcoming 45th Asian Development Bank (ADB) Annual Meeting to be hosted by the Republic of the Philippines through the Department of Finance (DOF) from 02 to 05 May 2012 at the PICC, Manila, Philippines, the following shall be observed in the processing and release from customs custody of accompanying baggage of INTERNATIONAL MEDIA PARTICIPANTS for the said event: 1. The bringing in of professional instruments, equipment, and accessories by media participants may be given conditionally-free entry pursuant to the provisions of Section 105 of the Tariff and Customs Code of the Philippines, as amended, relating to Temporary Importations, subject to their re-exportation on or before 12 May 2012, upon written commitment of the media participant of the assumption and payment of corresponding taxes, duties and other applicable charges due thereon should they fail to re-export the same, and subject to the submission of the following documents upon arrival of the participant concerned: a. Confirmation of ADB registration of the media participant for the event; b. Duly accomplished embarkation documents (using Bureau of Customs and Bureau of Immigration Forms) by the media participant concerned; and c. DOF-BOC Declaration Form (attached hereto as Annex "A") stating media participant's name, equipment and declared value, among others. HETDAa (SGD.) USEC. CARLO A. CARAG Revenue Operations and Legal Affairs Group ATTACHMENT Asian Development Bank January 19, 2012 Honorable Carlo A. Carag Undersecretary Revenue Operation and Legal Affairs Group Department of Finance Manila Attention: Atty. Thelma A. Mariano Director IV, Revenue Office Dear Undersecretary Carag, As you may know, the 45th Annual Meeting of the Board of Governors of the Asian Development Bank (ADB) will be held at the Philippine International Convention Center (PICC) in Manila from 2 to 5 May 2012. We are delighted that the Government of the Philippines will host the event. The meeting will provide an opportunity for participants from ADB's 67 member countries to hold formal and informal consultations that help shape economic, financial, and social policies and programs in Asia and the Pacific. About 4,000 participants, including finance ministers, central bank governors, and representatives from the private sector, academia, civil society, and media are expected to attend the meeting. As with previous ADB annual meetings, we expect significant participation by international media at this year's meeting in Manila. We hope that strong international media participation will result in extensive coverage of the Annual Meeting and an opportunity to raise the profile of the Philippines. As media will play an important role at our Annual Meeting, we request your consideration in granting an exemption to participating international media for taxes and duties on media equipment and accessories, which will be used by the international media in covering the Annual Meeting. The exemption would only apply to overseas-based journalists traveling to the Philippines to cover the Annual Meeting. We expect around 100-200 such journalists. ADB sends invitations to the Annual Meeting only to media organizations/persons who pass its rigorous accreditation process. Thus, the letter confirming registration of participation may also serve as a letter of accreditation by ADB. Apart from other details, this letter has a photograph of the participant and indicates clearly that he/she is from the media. We can advise media participants to present this letter of confirmation to immigration authorities at the airport along with the disembarkation card that lists media equipment and accessories, upon arrival, and for counterchecking upon departure. We will be happy to discuss further details with you on the process. aSITDC We appreciate your support and look forward to a favorable reply. Thank you. Sincerely, (Sgd.) Ann Quon Principal Director Department of External Relations Media Declaration Form DOF-BOC Form No. 2012-001