Amendments to R.A. No. 601 (Exchange Tax Law)

June 18, 1955 REPUBLIC ACT NO. 1375 AN ACT AMENDING SECTIONS ONE AND TWO OF REPUBLIC ACT NUMBERED S IX HUNDRED O NE, AS AMENDED BY REPUBLIC ACTS NUMBERED EL EVEN HUND RED SEVENTY-FIVE AND ELE VEN HU NDRED NINETY-SEVEN * SECTION 1. Sections one and two of Republic Act Numbered Six hundred one, as amended by Republic Acts Numbered Eleven hundred seventy-five and Eleven hundred ninety-seven, 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-six. "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, cattle, canned fish, cocoa beans, 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 by airlines of American registry operating between the Philippines and the United States of income in the Philippines to their head offices in the United States: Provided , That such airlines have been granted a permit to operate under the Air Transport Agreement between the United States and the Philippines prior to the enactment of Republic Act Numbered S ix hu ndred one; remittances for payment of principal and interests of foreign loan contracted under obligation of the Philippine Government or any of its instrumentalities; remittances for payment of living expenses of students pursuing courses of studies abroad not exceeding the equivalent of two hundred and fifty dollars per month including payment of tuition, books, medical expenses and other school fees; and dollar allocations for one trip a year and not exceeding three hundred dollars for each Filipino pilgrim of any religion travelling abroad under permit of the Government; 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 policy-holders 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 as amended by Republic Act Numbered Nine hundred and one." casia SECTION 2. This Act shall take effect on July 1, 1955. Approved: June 18, 1955 Published in the Official Gazette, Vol. 51, No. 9, p. 4446 in September 1955 APPENDIX DRUGS AND MEDICINES 1. Adrenalin (Epinephrine) Chloride (not preparations) 2. Aluminum Hydroxide 3. Amebacides except emetine preparations 4. Amino Acid preparations, solutions, parenteral 5. Antihelmintic preparations except calomel and santonin 6. Antihypertension preparations 7. Anti-Leprosy preparations 8. Antimalarias except quinine preparations 9. Antisyphilitic preparations 10. Antitetanic serum 11. Aureomycin preparations 12. Blood Testing serums and solutions 13. Cardiac stimulants except aminophylline preparations and digitalis preparations 14. Castor Oil 15. Chenopodium Oil 16. Chloromycetin preparations 17. Coagulants 18. Cortisone Acetate preparations 19. Diagnostic Reagents (not chemical reagents) for chemical analysis 20. Digitalis 21. Diphtheria Antitoxin and other immunological preparations 22. Diphtheria Toxoid 23. Discoids of Hydrocyanic Acid (HCN) for fumigation work 24. Drugs (crude or otherwise), chemicals (simple or compound) for pharmaceutical manufacture 25. Drugs and medicines for the use of the dental and veterinary professions 26. Ergot 27. Gas Gangrene Antitoxin 28. Gland products and synthetic substitutes 29. Heparin derivatives 30. Hormone preparations 31. Hydrogen Peroxide preparations 32. HTH Commercial (not solution) 33. Insulin preparations, all forms 34. Laboratory Stains 35. Cresol, Creolin or Animal Dip 36. Liver Extract 37. Magnesium Hydroxide 38. Magnesium Trisilicate 39. Mercurial Diuretics 40. Mercurochrome crystals 41. Merthiolate preparations 42. Neomycin and preparations 43. Novocain and other anaesthetics for general, spinal, intravenous, local or dental use. 44. Opium, its alkaloids and their salts, and synthetic substitutes 45. Pancreatic extracts 46. Plasma 47. Pregnenolon Acetate 48. Protein Solutions, powders and compounds 49. Quarternary Ammonium compounds 50. Saccharine 51. Salt Substitutes 52. Similac, Klim, Lactogen and other dehydrated powdered milk 53. Sera and vaccines 54. Terramycin and preparations 55. Tuberculin Tablets PPD, 1st and 2nd Tests 56. Anti-biotics powder (bulk) for pharmaceutical preparations 57. Tetracyn and preparations 58. Achromycin and preparations 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. Major Operating table (not examining table) 12. Needles, hypo, all sizes 13. Operating lights 14. Optometric instruments and supplies 15. Plasters, adhesive, all sizes 16. Sterilizers, autoclaves 17. Surgical instruments 18. Sutures, all kinds and sizes 19. Syringes, hypo, all sizes 20. X-Ray films 21. X-Ray equipment and supplies 22. Radium for therapy 23. Not more than two new well-tested drugs authorized by the Secretary of Health upon the recommendation of the Philippine Medical Association and the Medical Association of Private Practitioners.