Philippine Shipbuilders and Repairers Associations

February 4, 1986 FIRB RESOLUTION NO. 003-86 SUBJECT : Philippine Shipbuilders and Repairers Associations BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That the request of the Philippine Shipbuilders and Repairers Association for restoration of the tax and duty exemption privilege of shipbuilders and shiprepairers is granted subject to the following conditions: DaScHC 1. The tax and duty exemption privileges of existing firms registered with MARINA under P.D. No. 666 are restored for the period therein stated. Provided, that the tax and duty exemption privileges on importation of machinery, equipment and materials for shipbuilding, shiprepair and/or alteration, including indirect import, as well as replacement and spare parts for the repair and overhaul of vessels shall be available only up to a period not exceeding 10 years from the date of registration with MARINA. 2. Prospective firms shall register with the Board of Investments and shall avail of the incentives as provided for in B.P. Blg. 391. 3. The FIRB be furnished with a list of all firms registered with MARINA. (SGD.) CESAR E.A. VIRATA Minister of Finance Chairman-FIRB