Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc.
Letter of Instructions No. 1104, issued on January 21, 1981, exempts the entry of machinery, equipment, spare parts, supplies, and models for the 2nd ASEAN Council of Petroleum Conference and Exhibition (ASCOPE '81) from customs duties and taxes. This exemption is contingent upon a certification from the Minister of Energy confirming the items are necessary, of reasonable quantities, and for exclusive use during the event. If any of these imported items are sold or disposed of outside tax-exempt entities, applicable customs duties and taxes will be imposed retroactively. Additionally, foreign exhibitors can repatriate sales proceeds after the deduction of due customs duties, adhering to Central Bank regulations.
Quick Answers
- What is Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc. about?
- Letter of Instructions No. 1104, issued on January 21, 1981, exempts the entry of machinery, equipment, spare parts, supplies, and models for the 2nd ASEAN Council of Petroleum Conference and Exhibition (ASCOPE '81) from customs duties and taxes. This exemption is contingent upon a certification from the Minister of Energy confirming the items are necessary, of reasonable quantities, and for exclusive use during the event. If any of these imported items are sold or disposed of outside tax-exempt entities, applicable customs duties and taxes will be imposed retroactively. Additionally, foreign exhibitors can repatriate sales proceeds after the deduction of due customs duties, adhering to Central Bank regulations.
- What type of law is Letter of Instructions No. 1104?
- Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc. (Letter of Instructions No. 1104) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc. enacted?
- Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc. (Letter of Instructions No. 1104) was enacted on Jan 21, 1981.
- What is the citation for Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc.?
- Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc., Letter of Instructions No. 1104, Jan 21, 1981 (Philippines)
Law Information
- Reference Number
- Letter of Instructions No. 1104
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 21, 1981
LETTER OF INSTRUCTIONS NO. 1104
| TO | : | The Minister of Energy |
| The Minister of Finance | ||
| The Governor, Central Bank of the Philippines | ||
| The Commissioner of Customs | ||
| SUBJECT | : | Exempting the Entry of Machinery, Equipment, Spare Parts, Supplies, and Models or Samples and Replicas Thereof for Use in the 2nd ASEAN Council of Petroleum Conference and Exhibition (ASCOPE '81) |
The 2nd Asean Council of Petroleum Conference and Exhibition (ASCOPE '81) will be held in Manila on 7 to 9 October, 1981. This will involve as part of the conference exhibition and presentation of machinery, equipment, spare parts, supplies and models or samples and replicas thereof and will require the entry of these articles into the country together with the foreign delegates. acd
In view thereof, you are hereby directed to allow and authorize the entry of machinery, equipment, spare parts, supplies and models or samples and replicas thereof of the type, nature and description specified in the attached Annex "A", free and exempt from the payment of customs duties, taxes and all other assessment, provided a certification of the Minister of Energy is presented stating that such items are 1) necessary 2) of reasonable quantities and 3) to be used exclusively in presentations/exhibits on the occasion of, and in connection with, ASCOPE 1981.
In the event that any such imported machinery, equipment, spare parts, supplies and models or samples and replicas thereof are sold or otherwise disposed of to any person or entity other than a tax-exempt individual or entity, all customs duties, taxes and other assessments due thereon computed as at the date of the importation shall be levied, collected and paid. Disposition, by sale or otherwise, of such machinery, equipment, spare parts, supplies and models or samples and replicas thereof shall be made through the PNOC Energy Development Corporation.
Foreign exhibitors who sell or otherwise dispose of any machinery, equipment, spare parts, supplies and models or samples and replicas thereof imported pursuant to this Letter of Instruction shall be entitled to repatriate the proceeds of the sale or other disposition, minus customs duties, taxes and other assessments due thereon, at the prevailing; rate of exchange: Provided, that the amount to be repatriated shall not exceed the ceiling prescribed by the Central Bank.
DONE in the City of Manila, this 21st day of January, in the year of Our Lord, Nineteen Hundred and Eighty-One. casia
Cite This Law
Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc., Letter of Instructions No. 1104, Jan 21, 1981 (Philippines)
Exemption of Entry of Machinery, etc. for Use in ASCOPE '81 from Payment of Taxes, Duties, etc., Letter of Instructions No. 1104 (Phil. 1981)
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