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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 677 |
The Secretary of Finance
The Governor
Central Bank of the Philippines
The Commissioner of Customs
In connection with the Twelfth International Symposium on Remote Sensing of Environment which will be held in Manila on 20 to 26 April 1978, the following instructions are hereby issued:
1.
Importation of equipment, goods and articles which will be used
exclusively in presentations/exhibits to be shown on the occasion of,
and connected with, the Twelfth International Symposium on Remote
Sensing of Environmental shall, upon certification by the Secretary of
Natural Resources and recommendation of the Executive Director,
National Environmental Protection Council, be exempt from the payment
of customs duties, taxes and other assessments: Provided, That
importation of such equipment, goods and articles is not prohibited
under existing laws: Provided, further, That such equipment, goods and
articles are re-exported within thirty (30) days after termination of
the Symposium: Provided, finally, That the Secretary of Natural
Resources may, in meritorious cases, grant an extension of not
exceeding thirty (30) days to effect said re-exportation.
2. In the
event that any such imported equipment, good and article is 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 shall be levied, collected and paid. Disposition, by sale
or otherwise, of such equipment, goods and articles shall be made
through the Department of Natural Resources.
3. Foreign
exhibitors who sell or otherwise dispose of any equipment, goods and
article imported pursuant to this Letter of Instructions 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 at any time, exceed the ceiling prescribed by
the Central Bank.
4. Any person
or entity who desires to participate in and/or put up exhibits on the
occasion of, and connected with, the Symposium shall register with, and
pay the fee to, the Department of Natural Resources. Said fee shall be
payable in US dollars which shall, upon termination of the Symposium,
be remitted to the Environmental Research Institute of Michigan (ERIM).
Done in the City of Manila, this 6th day of March, in the year of Our Lord, Nineteen hundred and seventy-eight.
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