Amending R.A. No. 601 (Exchange Tax Law)

June 18, 1954 REPUBLIC ACT NO. 1175 AN ACT AMENDING SECTIONS ONE AND TWO OF REPUBLIC ACT NUMBERED SIX HUNDRED ONE, AS AMENDED * SECTION 1. Sections one and two of Republic Act Numbered Six hundred one, as amended, are further amended to read as follows: "SEC. 1. Except as herein otherwise provided, there shall be assessed, collected, and paid a special excise tax of seventeen per centum on the value in Philippine peso of foreign exchange sold and/or authorized to be sold by the Central Bank of the Philippines or any of its agents until June thirtieth, nineteen hundred and fifty-five. "SEC. 2. The tax provided for in section one of this Act shall not be collected on foreign exchange used for the payment of the cost, transportation and/or other charges incident to importation into the Philippines of canned milk, canned beef, canned fish, chocolate, malt, stabilizer and flavors, vitamin concentrate; supplies and equipment purchased directly by the Government or any of its instrumentalities for its own exclusive use; machinery, equipment, accessories, and spare parts, for the use of industries, miners, mining enterprises, planters and farmers; and fertilizers when imported by planters or farmers directly or through their cooperatives; articles or containers used, including materials for the manufacture of tin containers used by the importer himself in the manufacture or preparation of local products for consignment or export abroad; textbooks, reference books, and supplementary readers approved by the Board on Textbooks and/or established public or private educational institutions; paper imported by publishers for their exclusive use in the publication of books, pamphlets, magazines and newspapers; carbides, explosives and dynamite for mining purposes; drugs and medicines, and medical and hospital supplies listed in the appendix of this Act; payment in respect of reinsurance; payment in respect of marine and aviation insurance; spare parts to be used in the repair of vessels of Philippine registry or airplanes and such other parts thereof as may be certified by the Hulls and Boilers Division of the Bureau of Customs or the Civil Aeronautics Administration, respectively, as essential to the maintenance of vessels or airplanes; payment of purchase price of vessels or ships of any kind or nature intended for Philippine registry, ninety per cent of the ownership of which belongs exclusively to Filipinos, or charter fees of airplanes and vessels of Philippine register; remittances for payment of principal and interests of foreign loan contracted under obligation of the Philippine Government or any of its instrumentalities; payment of premiums by veterans on life insurance policies under the Government of the United States, and payment of premiums and other amounts due by policyholders on life insurance policies issued before December nine, nineteen hundred and forty-nine, and payment of machinery and/or raw materials to be used by new and necessary industries as determined in accordance with Republic Act Numbered Thirty-five." acd SECTION 2. This Act shall take effect upon its approval. Approved: June 18, 1954 Published in the Official Gazette, Vol. 50, No. 9, p. 4106 in September 1954 APPENDIX DRUGS AND MEDICINES 1. Adrenalin (Epinephrine) Chloride and preparations 2. Aluminum Hydroxide preparations 3. Amebacides except emetine preparations 4. Amino Acid preparations, solutions, parenteral 5. Antihelmintic preparations except calomel, santonin 6. Antihistaminic preparations 7. Antihypertension and vasodilator agents 8. Anti-Leprosy preparations 9. Antimalarias except quinine preparations 10. Antipyretics not manufactured locally 11. Antisyphilitic preparations 12. Antitetanic serum 13. Aureomycin preparations 14. B-Complex Capsules 15. Barbiturates and their preparations 16. blood testing serums and solutions 17. Cardiac stimulants except aminophylline preparations 18. Castor Oil 19. Cathartic Pills Compound 20. Chenopodium Oil 21. Chlorazene Tablets and similar preparations 22. Chloromycetin preparations 23. Coagulants 24. Cortisone Acetate preparations 25. Curare products and similar preparations 26. Diagnostic Reagents 27. Digitalin and other digitalis preparations 28. Diptheria Antitoxin and other immunological preparations 29. Diptheria Toxoid 30. Discoids of Hydrocyanic Acid (HCN) for fumigation work 31. Drugs (crude or otherwise), chemicals (simple or compound) for pharmaceutical manufacture and chemicals to be used for the eradication of plant insects and pests aisa dc 32. Drugs and medicines for the use of the dental and veterinary professions 33. Ergot preparations and derivatives 34. Ferrous Sulphate preparations 35. Gas Gangrene Antitoxin 36. Gland products and synthetic substitutes 37. heparin derivatives 38. homogenized baby Foods (vegetables, fruits and meats) 39. Hormone preparations 40. Hydrogen peroxide preparations 41. HTH Commercial 42. Insulin preparations, all forms 43. Laboratory Stains 44. Liquor Cresolis Compositus and other disinfectants 45. Liver Extract preparations 46. Magnesium Hydroxide preparations 47. Magnesium Trisilicate compounds 48. Mercurial Diuretics 49. Mercurochrome, crystals 50. Merthiolate preparations 51. Multivitamin Capsules 52. Neomycin and preparations 53. Novacain and other anaesthetics for general, spinal, intravenous, local or dental use 54. Opium, its alkaloids and their salts, its derivatives, their preparations and synthetic substitutes 55. Pancreatic extracts preparations 56. Plasma 57. Pregnenolon Acetate and preparations 58. protein Solutions, powders and compounds 59. Quarternary Ammonium compounds and other fungicidal agents 60. Saccharine preparations and substitutes 61. Salt Substitutes 62. Similac, Klim, Lactogen and other dehydrated powdered milk 63. Sulphur 64. Terramycin and preparations 65. Tuberculin Tablets PPD, 1st and 2nd Tests 66. Vitamin preparations not manufactured locally in sufficient quantities 67. Drugs specialties not manufactured locally 68. Anti-biotics (bulk) 69. Tetracyn and preparations 70. Achromycin and preparations 71. Cyanide for mining purposes MEDICAL AND HOSPITAL SUPPLIES 1. Applicators, wood 2. Bandage, gauze 3. Bandage, specialists, Plaster of Paris 4. Cotton, Absorbent 5. Dental instruments and supplies 6. Diagnostic instruments 7. Droppers, medicine 8. Electro Medical equipment 9. Gauze, plain 10. Gauze, sponges 11. Jelly, lubricating, pain or anaesthetics 12. Major operating table (not examining table) 13. Needless, hypo, all sizes 14. Operating lights 15. Optometric instruments and supplies 16. Pads, obstetrical 17. Plasters, adhesive, all sizes 18. Sterilizers, autoclaves 19. Surgical instruments 20. Surgical, crinoline 21. Sutures, all kinds and sizes 22. Syringes, hypo, all sizes 23. X-Ray films, developers and fixers 24. X-Ray equipment and supplies 25. Radium for therapy