FIRB Resolution No. 010-87

April 22, 1987 FIRB RESOLUTION NO. 010-87 BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That the tax and duty exemption privileges granted under the terms and conditions of Executive Order No. 46 are restored effective March 10, 1987, subject to the following conditions: 1. The restoration shall be limited only to taxes and duties arising out of merchandise imported/purchased by the Duty Free Philippines and subsequently sold by it through authorized tax-and duty-free shops; 2. Operations of tax-and duty-free shops shall be restricted only to the two international airports situated in Manila and Cebu; aisadc 3. Sales by tax-and duty-free shops to incoming passengers shall be restricted in accordance with rules, regulations and procedures promulgated by the Bureau of Customs. For this purpose, the Duty Free Philippines shall submit to the FIRB on a monthly basis, the audited summary report of its sales to incoming passengers, including among others, the purchases made by them, as to quantity and volume; and 4. Sales by tax-and duty-free shops to diplomatic personnel and those with authorized special privileges shall be made only through their respective embassies, offices, agencies, institutions, associations or organizations. (SGD.) JAIME V. ONGPIN Secretary of Finance Chairman, FIRB