27.

Manila International Airport Authority (MIAA) it is not a government owned

or controlled corporation but an instrumentality of the government that is exempt
from taxation.
It is not a stock corporation because its capital is not divided into shares, neither is it a nonstock corporation because there are no members. It is instead an instrumentality of the government
upon which the local governments are not allowed to levy taxes, fees or other charges.
An instrumentality refers to any agency of the National Government, not integrated within the
department framework vested with special functions or jurisdiction by law, endowed with some if not all
corporate powers, administering special funds, and enjoying operational autonomy, usually through a
charter. This term includes regulatory agencies chartered institutions and government-owned or
controlled corporations. [Sec. 2 (10), Introductory Provisions, Administrative Code of 1987] It is an
instrumentality exercising not only governmental but also corporate powers. It exercises governmental
powers of eminent domain, police power authority, and levying of fees and charges.