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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1104 -
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 Minister of Finance
The Governor, Central Bank of the Philippines
The Commissioner of Customs
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.
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.
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