REPUBLIC ACT NO. 1197 - AN
ACT TO FURTHER AMEND REPUBLIC ACT NUMBERED SIX HUNDRED ONE, AS AMENDED
BY REPUBLIC ACT NUMBERED ELEVEN HUNDRED SEVENTY-FIVE |
(REPEALED BY REPUBLIC ACT NO. 1394) Section 1. Section two of Republic Act Numbered Six hundred one, as amended by Republic Act Numbered Eleven hundred seventy-five, is amended to read as follows: "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
wheat flour, 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 or farmers; and fertilizers when imported by
planters or farmers directly 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 orrplanes 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 orrplanes; 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 ofrplanes and vessels of Philippine
register; remittances byrplanes of American registry operating between
the Philippines and the United States of income in the Philippines to
their head offices in the Unites: Provided, That suchrplanes have been
granted a permit to operate under ther Transport Agreement between the
United States and the Philippines prior to the enactment of Republic
Act Numbered Six hundred 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 Moro pilgrim traveling 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 policyholders of 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." Sec. 2. The new exemptions provided for in this amendatory Act shall take effect only on the dates which the President of the Philippines shall fix when this judgment the interest of the national economy and general welfare so require.cralaw Sec. 3. This Act shall take effect upon its
approval.cralaw Approved: August 28, 1954 |