Agricultural and Modernization Act of fish ...

Agriculture and Fisheries Modernization Act (AFMA) on the methods of the new law on the modernization of agriculture and fisheries in the Philippines. ... .Also known as the Republic Act No. 8435, AFMA programs remain in place and are similar to the efforts of many countries, liberalization and globalization of the food industry. ... .ActThe passage of the Philippine Senate and House of Representatives passed the Agriculture and Fisheries Modernization Act December 1997.ObjectivesBy from AFMA, the Philippine government support in the development and profitability requested. Increased business volume of agriculture and fisheries. ... .According to the Philippine Tariff Commission reached the law this by focusing on new technologies and participation in the global market. ... .The law should also work to empower people in these industries, and greater food security and accessibility for all departments people.Duty ExemptionThe Philippine Philippine implementation of a tax exemption as a result of this action. ... .For five years - until 2003 - all working people in the fishing or farming equipment and was able to upgrade without paying national fees to the Philippine government to import. ... .Another act in 2004 extended the exemption until 2015 ....