Further Amending Certain Provisions Of The National Internal Revenue Code

Presidential Decrees

Presidential Decree No. 1994

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 1994

FURTHER AMENDING CERTAIN PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE

WHEREAS, the current economic crisis amounts to a grave emergency which affects the stability of the nation and requires immediate action;

WHEREAS, there is an imperative need to simplify and restructure certain provisions of the National Internal Revenue Code;

WHEREAS, the issuance of this Decree is an essential and necessary component of the national economic recovery program promulgated to meet and overcome the emergency;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:

Section 1. Section 5 of the National Internal Revenue Code is hereby amended to read as follows:

"Sec. 5. Forms, receipts, certificates, and appliances. [a] Provision and distribution to proper officials. - It shall be the duty of the Commissioner, among other things, to prescribed, provide, and distribute to the proper officials the requisite licenses, internal revenue stamps, labels, all...