Exemption of Prizes of Miss Universe Contestants From Tax
Presidential Decree No. 486, issued on June 19, 1974, exempts all cash and in-kind prizes, including talent fees and gifts for participants of the Miss Universe Beauty Pageant, from taxes in the Philippines. Additionally, it grants tax and customs duty exemptions for television and movie equipment brought in by the technical crew for the event, provided this equipment is reported to the Commissioner of Customs and leaves the country post-pageant. The decree mandates that the Secretary of Finance will establish necessary regulations for its implementation. This decree took immediate effect to support the Philippines as host of the 1974 Miss Universe contest.
Law Information
- Reference Number
- Presidential Decree No. 486
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 19, 1974
PRESIDENTIAL DECREE NO. 486
EXEMPTING FROM TAX PRIZES OF MISS UNIVERSE CONTESTANTS AND CERTAIN EQUIPMENT AND FACILITIES TO BE USED IN CONNECTION WITH THE MISS UNIVERSE BEAUTY PAGEANT
WHEREAS, the Philippines will play host to the 1974 Miss Universe Beauty Pageant to be held in Manila; and
WHEREAS, as a gesture of courtesy and goodwill to the various beauty representatives of the nations participating therein;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the authority vested in me by the Constitution, do hereby order and decree:
SECTION 1. All prizes in cash or in kind, including talent fees and gifts given to the winning candidates and the participants in the Miss Universe Beauty Pageant during and in connection with the said Pageant shall be exempt from any and all taxes due to the Philippine Government.
SECTION 2. Television and movie equipment and facilities brought to the country by the technical crew of Miss Universe Inc. to be used for the coverage of the Pageant shall be exempt from all customs duties and taxes or bonds in lieu thereof; Provided, That the listing, specifications and details of said equipment and facilities shall be furnished to the Commissioner of Customs and the Department of Tourism; and provided, further, that none of said equipment and facilities shall remain in the Philippines after the Pageant otherwise full customs duties shall be levied and collected on them.
SECTION 3. All necessary rules and regulations to implement this Decree shall be promulgated by the Secretary of Finance.
SECTION 4. This Decree shall take effect immediately.
DONE in the City of Manila, this 19th day of June, in the year of Our Lord, Nineteen Hundred and Seventy-Four.
Cite This Law
Exemption of Prizes of Miss Universe Contestants From Tax, Presidential Decree No. 486, Jun 19, 1974 (Philippines)
Exemption of Prizes of Miss Universe Contestants From Tax, Presidential Decree No. 486 (Phil. 1974)
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