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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 161 - EXEMPTING
FROM SALES TAX GOODS SOLD TO THE ASIAN DEVELOPMENT BANK AND EXEMPTING
FROM CONTRACTORS TAX SERVICES RENDERED TO THE ASIAN DEVELOPMENT BANK
WHEREAS,
the Philippines is a contracting party to the Agreement Establishing
the Asian Development Bank;
WHEREAS, the Asian Development Bank has continuously been supportive of
the Economic recovery program of the Philippines;
WHEREAS, the exemption from sales tax of goods sold to the Asian
Development Bank and the exemption from contractors tax services
rendered to the Asian Development Bank will enhance the competitiveness
of domestic suppliers of goods and/or services.
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1.
(a)
(b)
Sec. 2.
Done in the City of Manila,
this 21st day of April, in the year of Our Lord, nineteen hundred and
eighty-seven.
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