PRESIDENTIAL DECREE No. 1710

AMENDING PRESIDENTIAL DECREE NO. 791, ENTITLED "PROVIDING EXEMPTION FROM THE PAYMENT OF CUSTOMS AND TARIFF DUTIES, SPECIAL IMPORT TAX AND COMPENSATING TAX COVERING IMPORTATION OF SUGAR MILLS, MACHINERY, SPARE PARTS AND EQUIPMENT FOR A LIMITED PERIOD"

WHEREAS, Presidential Decree No. 791 exempts those engaged in the business of manufacturing, milling, processing or refining of sugar, from the payment of special import tax, compensating tax and customs and tariff duties in respect to the importation of plant machinery, spare parts and other equipment effective until June 30, 1980; and

WHEREAS, there is need to extend the exemption period for another five years.

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order:

Section 1. Section 1 of Presidential Decree No. 791 is hereby amended to read as follows:

"Sec. 1. Any person, partnership, company or corporation who or which now engaged or shall engage in the business of manufacturing, milling, processing or refining of sugar, shall be exempted from the payment of special import tax, compensating tax and customs and tariff duties in respect to the importation of plant machinery, spare parts and other equipment effective upon approval of this Decree until June 30, 1985."

Section 2. This Decree shall take effect immediately.

Done in the City of Manila, this 13th day of August, in the year of Our Lord, nineteen hundred and eighty.