Tax Exemption for SEAFDEC Aquaculture Dept.

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PRESIDENTIAL DECREE NO. 292: Tax Exemption for SEAFDEC Aquaculture Dept.

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Title Supreme Court: Tax Exemption for SEAFDEC Aquaculture Dept.

Law: Presidential Decree No. 292

Decision Date: Sep 13, 1973

Presidential Decree No. 292 grants tax exemption and privileges to the SEAFDEC Aquaculture Department in the Philippines, promoting research, training, and information dissemination in aquaculture in Southeast Asia. The decree aims to stimulate the development of the fisheries industry in the country and neighboring nations, exempting the department from various taxes and providing benefits to its staff and foreign personnel.

aquaculture department

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Tax Exemptions on Gifts and Donations

All gifts, bequests, donations, and contributions received by the SEAFDEC Aquaculture Department from any source are exempt from taxes imposed under the National Internal Revenue Code.
These contributions are deductible for income tax purposes by the donors.
Funds received must be properly receipted and disbursed in accordance with the SEAFDEC Agreement and Council resolutions.

Income Tax Exemption for Foreign Technical and Scientific Staff

Non-Filipino citizens who are technical and scientific staff members of the SEAFDEC Aquaculture Department are exempt from income tax on salaries and stipends received strictly for services rendered to the Department.

Immigration Privileges for Foreign SEAFDEC Personnel

Foreign nationals entering the Philippines to work for SEAFDEC are exempt from immigration restrictions related to quotas and duration of stay.
This exemption applies to officials, instructors, researchers, trainees, and their dependent spouses, children, or relatives residing within the household.

Effectivity of the Decree

The decree takes immediate effect upon issuance on September 13, 1973, under the authority of the President of the Philippines.

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