FURTHER AMENDING SECTION 190 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, EXEMPTING IMPORTATIONS OF DOMESTIC SCHEDULED AIRLINES AND OF NEW MINES AND OLD MINES WHICH RESUME…

To further rehabilitate our civil aviation industry and accelerate the
development d exploitation of our mineral resources, both of which being
essential to our economic development, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to
Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated
September 22, 1972, as amended, do hereby amend Section 190 of the National
Internal Revenue Code, as amended, to wit:

SECTION 1. The last paragraph of Section One Hundred Ninety
of Commonwealth Act Numbered Four hundred sixty-six, otherwise known as the
“National Internal Revenue Code” is further amended to read as follows:

“SEC. 190. Compensating Tax. —

X X X

“The provisions of existing laws to the contrary notwithstanding, exemptions
from this tax shall be limited to the following:

“1. Those enumerated in this Section;

“2. Those granted under Republic Act No. 5186, as amended; Republic Act No.
6135, as amended; Republic Act No. 5490; Republic Act No. 4147; Republic Act No.
4501; Republic Act No. 4271, as amended by Republic Act No. 2360.

“3. Those granted in pursuance of or in compliance with international
treaties or commitments, such as the ADB-RP Host Agreement (1966), the 1947
Convention on Privileges and Immunities of the United Nations and its
Specialized Agencies; the United States Agency for International Development-RP
Agreement; the 1947 Military Bases Agreement; and other similar treaties or
commitments; and

“4. Machineries, equipment, tools for production plants to convert mineral
ores into saleable form, spare parts, supplies, materials, accessories,
explosives, chemicals, and transportation and communication facilities imported
by and for the use of new mines and old mines which resume operations, when
certified to as such by the Secretary of Agriculture and Natural Resources upon
the recommendation of the Director of Mines, for a period ending five (5) years
from the first date of actual commercial production of saleable mineral
products: Provided, That such articles are not locally available in
reasonable quantity, quality and price and are necessary or incidental in the
proper operation of the mine; and

“5. Those that may be granted by the President upon recommendation of the
NEDA in the interest of economic development.”

SEC. 2. This Decree is hereby made part of the law of the
land and shall take effect immediately.

Done in the City of Manila, this 9th day of July, in the year of Our Lord,
nineteen hundred and seventy-three.

			(Sgd.) FERDINAND E. MARCOS President Republic of the Philippines
	By the President:
	(Sgd.) ROBERTO V. REYES
		Assistant Executive Secretary