Further Amending Republic Act Numbered Three Thousand Five Hundred And Thirty Eight So As To Extend Tax Exemption Privileges To The Asia Foundation, Inc.
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Further Amending Republic Act Numbered Three Thousand Five Hundred And Thirty Eight So As To Extend Tax Exemption Privileges To The Asia Foundation, Inc.
Presidential Decree No. 1127
April 22, 1977
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Summary of Presidential Decree No. 1127Extension of Tax Exemption Privileges to the Asia Foundation, Inc.
- Recognizes the non-profit character and assistance provided by international civic organizations to various undertakings in the country. (Preamble)
- Extends tax exemption privileges granted to the Ford Foundation, Rockefeller Foundation, Agricultural Development Council, Inc., and Foster Parents Plan, Inc. to the Asia Foundation, Inc. (Preamble)
- Amends Section 1 of R.A. No. 3538 as amended by R.A. No. 4169 to include the Asia Foundation, Inc. in the list of organizations exempt from the payment of gift, franchise, specific percentage, real property, and all other taxes, duties, and fees. (Section 1)
- The exemption extends to goods imported under grants from these organizations for relief, medical, scientific, educational, and training purposes to government organizations and private institutions recognized by the government. (Section 1)
- The exemption also covers goods imported for the personal use of foreign personnel whose services are paid by these organizations or from funds granted by them. (Section 1)
- The exemption does not apply to the collection of customs duties and taxes on goods or articles subsequently sold, transferred, or exchanged in the Philippines to persons or entities not entitled to exemption. (Section 1)
- Amends Section 2 of the same Act to exempt non-Filipino citizens serving on the staff of the Asia Foundation, Inc. grants from the payment of income tax on salaries and stipends in dollars received solely for service rendered under the Asia Foundation, Inc. programs. (Section 2)
- The Decree takes effect immediately. (Section 3)
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Further Amending Republic Act Numbered Three Thousand Five Hundred And Thirty Eight So As To Extend Tax Exemption Privileges To The Asia Foundation, Inc.
Presidential Decree No. 1127
•April 22, 1977
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1127
FURTHER AMENDING REPUBLIC ACT NUMBERED THREE THOUSAND FIVE HUNDRED AND THIRTY EIGHT SO AS TO EXTEND TAX EXEMPTION PRIVILEGES TO THE ASIA FOUNDATION, INC.
WHEREAS, tax privileges have been granted to certain international civic organizations in recognition of their non-profit character and the assistance being accorded by these organizations to various undertakings in the country;
WHEREAS, under R.A. No. 3538 as amended by R.A. No. 4169, the tax exemptions granted to the Ford Foundation, Rockefeller Foundation, the Agricultural Development Council, Inc. and the foster Parent Plan are not extended to the Asia Foundation, Inc.;
WHEREAS, in recognition of the humanitarian efforts of the Asia Foundation and in order to better enable the same to continue its operations in the country, the grant of similar tax exemptions to the Asia Foundation is deemed appropriate;
NOW, THEREFORE I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree the following as part of the law of...
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