MALACAÑANG 
Manila

PRESIDENTIAL DECREE No. 215

EXEMPTING THE IMPORTATION OF OCEAN-GOING VESSELS FROM THE TEN PER CENT CUSTOMS DUTY AND SEVEN PER CENT COMPENSATING TAX

In line with the policy to encourage the development of the shipping industry in this country, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me 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, do hereby order and decree that the importation of ocean-going vessels shall be exempted from the payment of the ten per cent customs duty prescribed in the Tariff and Customs Code and the seven per cent compensating tax provided in the National Internal Revenue Code.

Any provision of law, executive order or regulation inconsistent with this Decree is hereby repealed or modified accordingly.

This Decree shall take effect immediately.

Done in the City of Manila, this 16th of June, in the year of Our Lord, nineteen hundred and seventy-three.

(Sgd.) FERDINAND E. MARCOS
President of the Philippines

By the President:

(Sgd.) ROBERTO V. REYES
Assistant Executive Secretary

Source: Malacañang Records Office