Proclamation No. 1988-A, issued on July 11, 1980, authorizes the Metropolitan Theater Foundation, Inc. to conduct a national fundraising campaign for one year to support the restoration and operation of the Metropolitan Theater, as well as to train various artistic talents. The Foundation aims to organize cultural presentations and requires public and private financial support to achieve its goals. Notably, all contributions to this campaign will be exempt from income, gift, amusement, and other taxes, and donors can fully deduct these contributions for tax purposes. This proclamation underscores the importance of cultural initiatives in the Philippines and facilitates community involvement in the arts.
July 11, 1980
PROCLAMATION NO. 1988-A
AUTHORIZING THE METROPOLITAN THEATER FOUNDATION, INC. TO CONDUCT A NATIONAL FUND RAISING CAMPAIGN
WHEREAS, the Metropolitan Theater Foundation Inc., a non-stock and non-profit corporation, is engaged in the restoration, operation and maintenance of the Metropolitan Theater and to train singers, musicians, dancers, artists and other similar talents for the Theater and for local governments of Metro Manila;
WHEREAS, one of the initial projects of the Foundation is to organize and handle cultural presentations in the Theater; and
WHEREAS, the Foundation needs the financial support of the public and private sectors to realize its laudable objectives; aisa dc
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby authorize the Metropolitan Theater Foundation, Inc. to conduct a national fund-raising campaign for a period of one (1) year from the issuance of this proclamation.
All donations or contributions to and income of the fund campaign shall be exempt from income, gift, amusement and all other taxes and the same shall further be deductible in full and shall not be included for purposes of computing the maximum amount deductible under Sec. 30, paragraph (h), of the National Internal Revenue Code, as amended.
IN WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.
DONE in the City of Manila, this 11th day of July, in the year of Our Lord, Nineteen Hundred and Eighty.
Published in the Official Gazette, Vol. 76 No. 29, 4954-18 Supp., on July 21, 1980.