Amending Certain Sections of the National Internal Revenue Code of 1977, as Amended, and For Other Purposes
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Amending Certain Sections of the National Internal Revenue Code of 1977, as Amended, and For Other Purposes
Presidential Decree No. 1457
June 11, 1978
Case Overview and Summary
Summary of Presidential Decree No. 1457Amendments to the National Internal Revenue Code of 1977
- Certain sections of the National Internal Revenue Code of 1977 are amended as per the attachments to this Decree. (Section 1)
- The amendments are incorporated by reference and are considered integral parts of this Decree. (Section 2)
- The Secretary of Finance shall promulgate rules and regulations for the implementation of this Decree, upon recommendation of the Commissioner of Internal Revenue. (Section 3)
- All existing laws, rules, and regulations inconsistent with this Decree are repealed, amended, or modified accordingly. (Section 4)
- This Decree takes effect immediately upon approval. (Section 5)
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Amending Certain Sections of the National Internal Revenue Code of 1977, as Amended, and For Other Purposes
Presidential Decree No. 1457
•June 11, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1457
AMENDING CERTAIN SECTIONS OF THE NATIONAL INTERNAL REVENUE CODE OF 1977, AS AMENDED, AND FOR OTHER PURPOSES
WHEREAS, there is a need to further amend certain provisions of the National Internal Revenue Code of 1977, as amended, to make it more responsive to current conditions;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following:
Section 1. Certain sections of the National Internal Revenue Code of 1977, as amended, are hereby further amended, the corresponding amendments being hereto attached.
Section 2. The aforementioned amendments are incorporated herein by reference and shall be deemed integral parts of this Decree.
Section 3. The Secretary of Finance shall, upon recommendation of the Commissioner of Internal Revenue, promulgate the rules and regulations for the implementation of this Decree.
Section 4. All existing laws, rules and regulations inconsistent herewith are hereby repealed, amended or modified accordingly.
Section 5. This Decree shall take...
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