Publishing Memorandum Circular No. 1059 dated May 8, 1978 of the Office of the President Relative to the Accreditation of Business Establishments Engaged in Cottage Industries with the NACIDA Pursuant to Republic Act 3470, as Amended

September 20, 1978 REVENUE MEMORANDUM CIRCULAR NO. 072-78 SUBJECT : Publishing Memorandum Circular No. 1059 dated May 8, 1978 of the Office of the President Relative to the Accreditation of Business Establishments Engaged in Cottage Industries with the NACIDA Pursuant to Republic Act 3470, as Amended TO : All Internal Revenue Officers and Others Concerned For the information and guidance of all concerned, there is quoted hereunder Memorandum Circular 1059 of the Office of the President. "MALACAANG MANILA MEMORANDUM CIRCULAR NO. 1059 "TO : The Secretary, Department of Finance The Chairman, Board of Investments The Secretary, Department of Tourism The Secretary, Department of Trade The Governor, Central Bank of the Philippines The Chairman, Securities & Exchange Commission All Concerned "For the purpose of strengthening the regulatory functions of the Accreditation Committee of the National Cottage Industries Development Authority (NACIDA) pursuant to Section 2 of Presidential Decree No. 817 amending a portion of Republic Act No. 3470: "1. The Chairman of the Board of Investments shall require all persons or enterprises engaged in cottage industry and registered, or applying for registration, with the Board under Republic Act No. 6135 to secure the necessary accreditation from said NACIDA Accreditation Committee; "2. The Secretary of the Department of Finance shall instruct all City and Municipal Treasurers and all collection agents of the Bureau of Internal Revenue not to issue any license or privilege tax receipts as the case may be, to any person or enterprise engaged in cottage industry without submitting proof that it has at least filed its application for accreditation with the NACIDA Committee; "3. The Secretary of the Department of Tourism shall not accredit any establishment dealing in cottage industry unless it has been duly accredited by the NACIDA Committee; "4. The Secretary of the Department of Trade shall require all persons engaged in the cottage industry whether as manufacturer, producer, trader or dealer of cottage industry raw materials, to obtain or apply for an accreditation with the NACIDA before they are allowed to participate in any commercial or promotional activity of the department; "5. The Governor of the Central Bank shall instruct all duly authorized banking institutions to require all cottage industry producers applying for export licenses to show proof of accreditation by NACIDA before any of such license is issued. Further, the Central Bank shall conduct a study and devise a scheme on how these duly accredited cottage industry enterprises may be assisted by the Central Bank in obtaining the necessary financial assistance from the private financial institutions; and "6. The Chairman of the Securities and Exchange Commission shall furnish the NACIDA Accreditation Committee a list of all enterprises engaged in the cottage industry and registered with the Commission. "The Administrator of NACIDA is hereby authorized to call upon other government agencies to assist in the implementation of the objectives of the Accreditation Committee. aisa dc By Authority of the President (SGD.) JACOBO C. CLAVE Presidential Executive Assistant As required in paragraph 2 of the said Memorandum Circular, all Collection Agents and field personnel of the bureau concerned with the collection of privilege taxes are hereby enjoined not to accept any payment for the issuance of a privilege tax receipt of persons or enterprises engaged in cottage industries, effective October 1, 1978, unless they are able to present proof that they have at least filed their application for accreditation with the NACIDA Committee. EFREN I. PLANA Acting Commissioner