FIRB Resolution No. 007-85

January 21, 1985 FIRB RESOLUTION NO. 007-85 WHEREAS, the State recognizes the need to encourage the patronage of Philippine-made products by providing appropriate incentives therefor, to Filipinos abroad and other non-residents of the Philippines, as well as to returning overseas Filipinos; WHEREAS, under Ministry Order No. 39-84 withdrawal from, or any preferential treatment in the payment of duties, taxes, imposts and other charges as provided for in P.D. 1955, does not apply to exemptions or preferential treatment embodied in the National Internal Revenue Code and Tariff & Customs Code; WHEREAS, the provisions of No. 2(a) and (c) of LOI 1355, providing incentives to internal exports, are similar to and has the same objective as those provided for in Sections 105 and 106 of the Tariff & Customs Code, which exempts from the payment of import duties personal and household effects brought into the Philippines by, among others, residents of the Philippines returning from abroad and allows the payment of drawbacks on imported raw materials used in the production or manufacture of the articles exported, respectively; BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That the fiscal incentives for internal exports under LOI 1355 be restored effective October 15, 1984. (SGD.) CESAR E. A. VIRATA Minister of Finance Chairman, FIRB