Amendment to R.A. No. 3538

April 25, 1977 PRESIDENTIAL DECREE NO. 1129 FURTHER AMENDING REPUBLIC ACT NO.3538 BY EXTENDING TAX EXEMPTIONS TO NON-FILIPINOPERSONNEL OF THE AMERICANKOR-ASIAN FOUNDATION INC WHEREAS, Section 27(E) of PRESIDENTIAL DECREE No. 69, as amended, exempts for tax purposes, among others, corporations or associations organized and operated exclusively for charitable purposes; aisa dc WHEREAS, Republic Act No. 3538, as amended, exempts the Ford Foundation, the Rockefeller Foundation, the Agricultural Development Council, Inc., and Foster Parents Plan, Inc., from the payment of gifts, franchise, specific percentage, real property taxes and the foreign personnel engaged by them from the payment of income taxes; WHEREAS, the American Kor-Asian Foundation, Inc., is likewise exempted from the payment of the abovementioned taxes pursuant to Section 27(E) of Presidential Decree No. 69, as amended; and WHEREAS, as a matter of policy non-Filipino personnel of foreign corporations or associations organized and operated exclusively for charitable purposes should be exempted from payment of income taxes on their salaries and stipends in dollars received by them by reason of their services rendered to said corporations or associations; acd NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: SECTION 1. Any provision of law to the contrary notwithstanding, non-Filipino citizens serving on the staff of American Kor-Asian Foundation, Inc., an association organized exclusively for charitable purposes, shall be exempted from the payment of income taxes on their salaries and stipends in dollars received by them by reason of services rendered to the American Kor-Asian Foundation, Inc. SECTION 2. This Decree shall take effect immediately. DONE in the City of Manila, this 25th day of April, in the year of Our Lord, Nineteen Hundred and Seventy-Seven. Published in the Official Gazette, Vol. 73 No. 26 Page 5738 on June 27, 1977.