FIRB Resolution No. 014-87
FIRB Resolution No. 014-87 • Fiscal Incentives Review Board • Resolutions • May 22, 1987
Full text
May 22, 1987 FIRB RESOLUTION NO. 014-87 BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That qualified importations of machinery, equipment and materials for shipbuilding, ship repair, and/or alteration, as well as replacement and spare parts for the repair and overhaul of vessels of the FRABELLE SHIPYARD CORPORATION, authorized by the Maritime Industry Authority and for which the corresponding Letters of Credit have been opened prior to March 10, 1987 shall remain entitled to tax and duty exemptions: Provided , That the tax and duty exemption privileges of shipbuilding and ship repair firms registered with the MARINA under the terms and conditions of Presidential Decree No. 666 (Providing incentives to shipbuilding and chiropteran industry), as amended, shall be subject to further study as requests for their restoration are made by the concerned firms. cdt (SGD.) JAIME V. ONGPIN Secretary of Finance Chairman, FIRB
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