Question & AnswerQ&A (Republic Act No. 1410)
Republic Act No. 1410, enacted on September 10, 1955, is an act to prohibit so-called "no-dollar" imports except under certain conditions.
Imports under "no-dollar remittance" refer to commodities, goods, or merchandise imported without the allocation of foreign exchange by the Central Bank of the Philippines.
Machinery, equipment, their accessories, and capital goods except raw materials may be imported under no-dollar remittance by persons engaged in dollar-producing and dollar-saving industries certified by the Secretary of Commerce and Industry, provided they are needed and will be used in such industries.
No, repatriation of the dollar value of such capital investments is not allowed except when authorized by the President, who will consider the level of the country's dollar reserves.
Commodities for personal use must not exceed ten thousand pesos, and gifts sent from abroad through the post office must not exceed an aggregate value of five hundred pesos, allowed only once every six months unless there is abuse.
Yes, Filipino residents abroad may send gifts not exceeding five hundred pesos each, once every month, but these may be accumulated to a value not exceeding five thousand pesos.
Commodities brought by persons returning to the Philippines must not exceed five thousand pesos in value, not for commercial purposes, and this allowance is granted once a year, unless there is evidence of abuse.
Commodities may be imported in exchange for goods exported by persons or firms, on a straight barter basis, but only when authorized by the Secretary of Commerce and Industry.
Cloths entering on consignment to be embroidered in the Philippines and re-exported after embroidery are allowed provided a sufficient bond is required to ensure re-exportation under rules set by the Department of Commerce and Industry.
Articles imported in violation of this Act are subject to seizure and confiscation by the Collector of Customs without redemption or release under bond. Additionally, willful violation of section 1(a) may result in imprisonment of not more than one year, at the court’s discretion.
The Department of Commerce and Industry is responsible for implementation and is empowered to draft, promulgate, and publish necessary rules and regulations.
Yes, goods in transit or previously imported under no-dollar remittance at the time of the approval of this Act are not affected by its provisions.
No, this Act does not allow importation of articles prohibited or limited by existing laws, such as virginia leaf tobacco, garlic, potatoes, and cabbages.