Encouragement of Inward Remittances of Contract Workers Earnings
Executive Order No. 1021, issued on May 1, 1985, aims to enhance the inward remittances of Filipino contract workers by encouraging them to use official channels. It acknowledges the significant economic contributions of overseas workers and proposes a package of incentives to reward those who remit through these channels. The order establishes an Inter-Agency Committee to design and implement these incentives, which includes members from various government ministries and representatives from the workers' sector. Additionally, the Committee is tasked with studying the institutionalization of a payroll system for foreign employers and the legalization of money couriers. Implementing rules for these initiatives are to be issued within 45 days of the order.
Quick Answers
- What is Encouragement of Inward Remittances of Contract Workers Earnings about?
- Executive Order No. 1021, issued on May 1, 1985, aims to enhance the inward remittances of Filipino contract workers by encouraging them to use official channels. It acknowledges the significant economic contributions of overseas workers and proposes a package of incentives to reward those who remit through these channels. The order establishes an Inter-Agency Committee to design and implement these incentives, which includes members from various government ministries and representatives from the workers' sector. Additionally, the Committee is tasked with studying the institutionalization of a payroll system for foreign employers and the legalization of money couriers. Implementing rules for these initiatives are to be issued within 45 days of the order.
- What type of law is Executive Order No. 1021?
- Encouragement of Inward Remittances of Contract Workers Earnings (Executive Order No. 1021) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Encouragement of Inward Remittances of Contract Workers Earnings enacted?
- Encouragement of Inward Remittances of Contract Workers Earnings (Executive Order No. 1021) was enacted on May 1, 1985.
- What is the citation for Encouragement of Inward Remittances of Contract Workers Earnings?
- Encouragement of Inward Remittances of Contract Workers Earnings, Executive Order No. 1021, May 1, 1985 (Philippines)
Law Information
- Reference Number
- Executive Order No. 1021
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Executive Orders
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 1, 1985
EXECUTIVE ORDER NO. 1021
ON ENCOURAGING THE INWARD REMITTANCES OF CONTRACT WORKERS EARNINGS THROUGH OFFICIAL CHANNELS
WHEREAS, Filipino contract workers overseas have by way of the inward remittance of their earnings through the years contributed tremendously to the stabilization of the national economy;
WHEREAS, this contribution of workers to the economy can be further maximized if a lot more can be encouraged to effect the inward remittance of their earnings through official channels; casia
WHEREAS, government recognizes this contribution of overseas contract workers and should therefore reward them through a package of incentives;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order:
1. The repeal of the punitive provisions of Executive Order No. 857;
2. The creation of an Inter-Agency Committee on Contract Workers Remittances to be composed of representatives from the Ministry of Labor and Employment, Ministry of Foreign Affairs, the Central Bank of the Philippines, the Bankers Association of the Philippines and a workers representative who shall be nominated by the Minister of Labor and Employment. The Committee shall immediately design, adopt and, with the concurrence of the Minister of Labor and Employment, the Minister of Foreign Affairs and the Governor of the Central Bank, implement a package of incentives to reward workers who remit through official channels.
The Central Bank shall provide the Committee with Secretariat services.
3. The Committee shall also study the institutionalization of a payroll system for foreign employers employing twenty five (25) or more workers. The payroll system shall include an incentive plan for employers or their local agencies.
4. The Committee shall also study the legalization of the money couriers system and make its recommendation to the Monetary Board in this regard.
5. The Ministry of Labor and Employment, the Ministry of Foreign Affairs and the Central Bank of the Philippines shall together issue the corresponding implementing rules within 45 days from issuance thereof.
DONE in the City of Manila, this First Day of May, 1985.
Cite This Law
Encouragement of Inward Remittances of Contract Workers Earnings, Executive Order No. 1021, May 1, 1985 (Philippines)
Encouragement of Inward Remittances of Contract Workers Earnings, Executive Order No. 1021 (Phil. 1985)
Related Laws
- Study of Guidelines To Facilitate the Remittances of Salaries of Filipino Overseas WorkersLetter of Instructions No. 1219 • Mar 26, 1982 • Presidential Issuances
- Amending Sec. 5(A) of E.O. No. 857 Re: Foreign Exchange Earnings Remittance of Filipino Workers AbroadExecutive Order No. 935 • Feb 28, 1984 • Presidential Issuances
- Reallocation of Certain Portion of Travel Tax Collections from Contract WorkersLetter of Instructions No. 1216 • Mar 26, 1982 • Presidential Issuances
- Establishment of Philippine Labor Centers in Certain Areas of Filipino Contract Workers' ConcentrationLetter of Instructions No. 1122 • May 1, 1981 • Presidential Issuances
- Instructions on the Food Prices, Fares and OFW RemittancesLetter of Instructions No. 2 • Oct 15, 2007 • Presidential Issuances
- Enhanced Welfare Services for Overseas WorkersLetter of Instructions No. 1320 • May 1, 1983 • Presidential Issuances
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