Practice question
A settler imports quantities of genuine professional tools suitable for personal occupational use and separately imports a manufacturing machine for factory production. All other Section 109(D) conditions for the tools are met. He treats the tools exemption as automatically covering the manufacturing machinery too. Which is correct?
- Every factory machine is a personal tool for this exemption
- Everything accompanying a settler is exempt
- The section expressly excludes the specified manufacturing machinery and similar goods; qualifying personal tools do not extend the exemption to all goods
- No professional tool can ever qualify
- A private declaration makes every item exempt
Legal references
- RA 10963, Section 34, NIRC Section 109, read with subsequent amendments: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
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