MALACAÑANG
M a n i l aPRESIDENTIAL DECREE No. 1447
INSTITUTING A PROCEDURE FOR THE MANAGEMENT OF PROCEEDS OF TAXES AND FEES EARMARKED FOR OR ADMINISTERED BY THE PHILIPPINE TOURISM AUTHORITY
WHEREAS, the Philippine Tourism Authority (PTA) has been created as the government's implementing arm in integrating activities and services related to tourism development; and
WHEREAS, there is a need to transform it into a more effective instrument geared towards the development of the various tourism infrastructure projects in the country;
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 as follows:
Section 1. All funds earmarked for or administered by the PTA pursuant to P.D. No. 189, as amended by P.D. No. 564 collected by the Philippine Tourism Authority and/or other government agencies shall be remitted to the National Treasury on a quarterly basis.
Section 2. The proceed of all collections pursuant to Section 1 hereof, shall be utilized exclusively for the...
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Presidential Decrees
Instituting a Procedure for the Management of Proceeds of Taxes and Fees Earmarked For or Administered By The Philippine Tourism Authority
Presidential Decree No. 1447
MANAGEMENT OF PROCEEDS OF TAXES AND FEES EARMARKED FOR OR ADMINISTERED BY THE PHILIPPINE TOURISM AUTHORITY
- All funds earmarked for or administered by the Philippine Tourism Authority (PTA) pursuant to P.D. No. 189, as amended by P.D. No. 564, collected by the PTA and/or other government agencies shall be remitted to the National Treasury on a quarterly basis. (Section 1)
- The proceeds of all collections shall be utilized exclusively for the operations and projects of the PTA. (Section 2)
• The National Treasury shall release the funds automatically upon approval by the PTA Board of its budgetary requirements, as an exception to P.D. No. 1234 and the budgetary processes provided in P.D. No. 1177. (Section 2)
• However, fund releases for expenditures on capital outlays and special undertakings shall be subject to specific approval by the President. (Section 2)
- Executive Order No. 499, s. 1978, is repealed, and all provisions of laws, decrees, executive orders, or instructions contrary to this Decree are amended or modified accordingly. (Section 3)
- This Decree shall take effect immediately. (Section 4)
- All funds earmarked for or administered by the Philippine Tourism Authority (PTA) pursuant to P.D. No. 189, as amended by P.D. No. 564, collected by the PTA and/or other government agencies shall be remitted to the National Treasury on a quarterly basis. (Section 1)
- The proceeds of all collections shall be utilized exclusively for the operations and projects of the PTA. (Section 2)
• The National Treasury shall release the funds automatically upon approval by the PTA Board of its budgetary requirements, as an exception to P.D. No. 1234 and the budgetary processes provided in P.D. No. 1177. (Section 2)
• However, fund releases for expenditures on capital outlays and special undertakings shall be subject to specific approval by the President. (Section 2)
- Executive Order No. 499, s. 1978, is repealed, and all provisions of laws, decrees, executive orders, or instructions contrary to this Decree are amended or modified accordingly. (Section 3)
- This Decree shall take effect immediately. (Section 4)