Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:

SECTION 1. Sections one and two of Republic Act Numbered Six hundred one, as amended, are further amended to read as follows:

"SECTION 1. Except as herein otherwise provided, there shall be assessed, collected, and paid a special excise tax of seventeen per centum on the value in Philippine peso of foreign exchange sold and/or authorized to be sold by the   Central   Bank   of   the   Philippines   or   any  of agents until  June thirtieth,  nineteen hundred and fifty five.

"SEC. 2. The tax provided for in section one of this Act shall not be collected on foreign exchange used the payment of the cost, transportation and/or other chars incident to importation into the Philippines of car milk, canned beef, canned fish, chocolate, malt, stabilize and flavors, vitamin concentrate; supplies and equipment purchased directly by the Government or any of its instrumentalities for its own exclusive use; machinery, equipment, accessories, and spare parts, for the use of industries, miners, mining enterprises, planters and farmers; and fertilizers when imported by planters or farmers directly or through their cooperatives; articles or containers used,  including materials for the manufacture of tin containers used by the importer himself in the manufacture preparation of local products for consignment or export abroad;   textbooks,   reference   books,   and  supplementary readers approved by the Board on Textbooks and/or established  public  or  private  educational  institutions;  paper imported by publishers for their exclusive use in the publication of books, pamphlets, magazines and newspapers; carbides, explosives and dynamite for mining purposes; drugs and medicines, and medical and hospital supplies listed in the appendix of this Act; payment in respect of reinsurance; payment in respect of marine and aviation insurance; spare parts to be used in the repair of vessels of Philippine registry or airplanes and such other parts thereof as may be certified by the Hulls and Boilers Division of the Bureau of Customs or the Civil Aeronautics Administration, respectively, as essential to the maintenance of vessels or airplanes; payment of purchase price of vessels or ships of any kind or nature intended for Philippine registry, ninety per cent of the ownership of which belongs exclusively to Filipinos, or charter fees of lirplanes and vessels of Philippine register; remittances for payment of principal  and interests of foreign  loan contracted under obligation of the Philippine Government or any of its instrumentalities; payment of premiums by veterans on life insurance policies under the Government of the United States, and payment of premiums and other founts due by policyholders  on  life insurance policies issued before December nine, nineteen hundred and forty-nine, and payment of machinery and/or raw materials to be used by new and necessary industries as determined in accordance with Republic Act Numbered Thirty-five."

SEC. 2. This Act shall take effect upon its approval.

Approved, June 18, 1954.

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1. Adrenalin (Epinephrine) Chloride and preparations
2. Aluminum Hydroxide preparations
   
3. Amebacides except emetine preparations
4. Amino Acid preparations, solutions, parenteral
5. Antihelmintic preparations except calomel, santonin
6. Antihistaminic preparations
7. Antihypertension and vasodilator agents
8. Anti-Leprosy preparations
9. Antimalarials except quinine preparations
10. Antipyretics not manufactured locally
11. Antisyphilitic preparations
12. Antitetanic serum
13. Aureomycin preparations
14. B-Complex
15. Barbiturates and their preparations
16. Blood testing serums and solutions
17. Cardiac stimulants except aminophylline preparations
18. Castor Oil
19. Cathartic Pills Compound
20. Chenopodium Oil
21. Chlorazene Tablets and similar preparations
22. Chloromycetin preparations
23. Coagulants
    
24. Cortisone Acetate preparations
25. Curare products and similar preparations
26. Diagnostic Reagents
27. Digitalin and other digitalis preparations
28. Diphtheria Antitoxin and other immunological preparations
29. Diphtheria Toxoid
30. Discoids of Hydrocyanic Acid (HCN) for fumigation work
31. Drugs (crude or otherwise), chemicals (simple or compound) for pharmaceutical manufacture and chemicals to be used for the eradication of plant insects and pests
32. Drugs and medicines for the use of the dental and veterinary professions
33. Ergot preparations and derivatitves
34. Ferrous Sulphate preparations
35. Gas Gangrene Antitoxin
36. Gland products and synthetic substitutes
37. Heparin derivatives
38. Homogenized Baby Foods (vegetables, fruits and meats)
39. Hormone preparations
40. Hyrogen Peroxide preparations
41. HTH- Commercial
42. Insulin preparations, all forms
43. Laboratory Stains
44. Liquor Cresolis Compositus and other disinfectants
45. Liver Extract preparations
    
46. Magnesium Hydroxide preparations
47. Magnesium Trisilicate compounds
    
48. Mercurial Diuretics
49. Mercurochrome, crystals
50. Merthiolate preparations
    
51. Multivatamin Capsules
52. Neomycin and preparations
53. Novocain and other anaesthetics for general, spinal, intravenous, local or dental use
54. Opium, its alkaloids and their salts, its derivatives, their preparations and synthetic substitutes
55. Pancreatic extracts preparations
56. Plasma
57. Pregnenolon Acetate and preparations
58. Protein Solutions, powders and compounds
59. Quarternary Ammonium compounds and other fungicidal agents
60. Saccharine preparations and substitutes
61. Salt Substitutes
62. Similac, Klim, Lactogen and other dehydrated powdered milk
63. Sulphur
64. Terramycin and preparations
65. Tuberculin Tablets PPD, 1st and 2nd Tests
66. Vitamin preparations not manufactured locally in sufficient quantities
67. Drugs specialties not manufactured locally
68. Anti-biotics (bulk)
69. Tetracyn and preparations
70. Achromycin and preparations
71. Cyanide for mining purpose

1. Applicators, wood
2. Bandage, gauze
3. Bandage, specialist, Plaster of Paris
4. Cotton, Absorbent
5. Dental instruments and supplies
6. Diagnostic instruments
7. Droppers, medicine
8. Electro Medical equipment
9. Gauze, plain
10. Gauze, sponges
11. Jelly, lubricating, plain or anaesthetics
12. Major Operating table (not examining table)
13. Needles, hypo, all sizes
14. Operating lights
15. Optometric instruments and supplies
16. Pads, obstetrical
17. Plasters, adhesive, all sizes
18. Sterilizers, autoclaves
19. Surgical instruments
20. Surgical, crinoline
21. Sutures, all kinds and sizes
22. Syringes, hypo, all sizes
23. X-ray films, developers and fixers
24. X-rays equipment and supplies
25. Radium for therapy