MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1987
AN ACT CREATING THE VIDEOGRAM REGULATORY BOARD
WHEREAS, the proliferation and unregulated circulation of videograms including, among others, videotapes, discs, cassettes or any technical improvement or variation thereof, have greatly prejudiced the operations of movie houses and theaters, and have caused a sharp decline in theatrical attendance by at least forty percent (40%) and a tremendous drop in the collection of sales, contractor's specific, amusement and other taxes, thereby resulting in substantial losses estimated at P450 Million annually in government revenues;
WHEREAS, videograms establishments collectively earn around P600 Million per annum from rentals, sales, and disposition of videograms, and such earnings have not been subjected to tax, thereby depriving the Government of approximately P180 Million in taxes each year;
WHEREAS, the unregulated activities of videogram establishments have also affected the viability of the movie industry, particularly the more than 1,200 movie houses and theaters throughout the country, and occasioned industry-wide displacement and unemployment due to the shutdown of numerous movie houses...
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An Act Creating The Videogram Regulatory Board
Presidential Decree No. 1987
