Section 90. Mandate. — The DFPC shall be a body corporate to operate the duty- and tax-free merchandising system in the Philippines to augment the service facilities for tourists and to generate foreign exchange and revenue for the government, as established by the Department under Executive Order No. 46.
In the performance of its functions, the DFPC shall have all the general powers of a corporation established under the Corporation Code, in furtherance of its charter.
The DFPC shall have the exclusive authority to operate or franchise out stores and shops that would sell, among others, duty- and tax-free merchandise, goods and articles, in international airports and seaports, and in TEZs and ports of entry throughout the country in a manner that:
Is competitive with international standards;
Effectively showcases Philippine culture, craftsmanship and industry; and
Efficiently and effectively generates foreign exchange.
Such merchandise, goods and articles shall only be sold to persons departing for abroad. Under such limitations, rules and regulations that may be provided by the Department and in consultation with the Department of Finance (DOF), such merchandise, goods and articles may be sold to passengers arriving into the Philippines from abroad, including those covered by the existing Balikbayan Program, under Republic Act No. 6768, as amended.
The DFPC shall likewise be authorized to operate stores and shops within the immediate vicinity of international airports and seaports to service the requirements of the international duty-free market.
The DFPC shall operate without prejudice to any privatization in the future, subject to existing laws on privatization and procedures on public bidding.