Granting Foreign Tourists Fifty Percent Of The Amusement Tax Provided In Section 260 Of The National Internal Revenue Code, As Amended
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Granting Foreign Tourists Fifty Percent Of The Amusement Tax Provided In Section 260 Of The National Internal Revenue Code, As Amended
Presidential Decree No. 386
February 7, 1974
Case Overview and Summary
Presidential Decree No. 386Granting Foreign Tourists 50% Discount on Amusement Tax
- Foreign tourists are entitled to a 50% discount on the amusement tax provided in Section 260 of the National Internal Revenue Code, as amended. (Section 1)
- The Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, shall promulgate rules and regulations to implement this decree. (Section 2)
- This decree takes effect immediately. (Section 3)
- Any conflicting provisions of existing laws, rules, and regulations are modified or repealed accordingly. (Section 4)
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Granting Foreign Tourists Fifty Percent Of The Amusement Tax Provided In Section 260 Of The National Internal Revenue Code, As Amended
Presidential Decree No. 386
•February 7, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 386 February 7, 1974
GRANTING FOREIGN TOURISTS FIFTY PERCENT OF THE AMUSEMENT TAX PROVIDED IN SECTION 260 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
WHEREAS, the government is committed to the policy of developing tourism into a major dollar-earning industry;
WHEREAS, experience has shown that incentives previously granted to tourists have been found to be effective;
WHEREAS, additional incentives are believed necessary to further accelerate the growth of tourism;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, in order to effect the desired changes, do order and decree that:
Section 1. All foreign tourists, upon proper identification shall be entitled to a fifty percent discount of the amusement tax provided in section two hundred and sixty of the National Internal Revenue...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
foreign tourists
amusement tax
discount
National Internal Revenue Code
rules and regulations
Secretary of Finance
Commissioner of Internal Revenue
tourism industry
incentives
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 386 February 7, 1974
GRANTING FOREIGN TOURISTS FIFTY PERCENT OF THE AMUSEMENT TAX PROVIDED IN SECTION 260 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
WHEREAS, the government is committed to the policy of developing tourism into a major dollar-earning industry;
WHEREAS, experience has shown that incentives previously granted to tourists have been found to be effective;
WHEREAS, additional incentives are believed necessary to further accelerate the growth of tourism;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated September 22, 1972, as amended, in order to effect the desired changes, do order and decree that:
Section 1. All foreign tourists, upon proper identification shall be entitled to a fifty percent discount of the amusement tax provided in section two hundred and sixty of the National Internal Revenue...
Login to see full content