Reducing the Percentage Tax on Stock Transactions
Presidential Decree No. 10, issued on October 3, 1972, by President Ferdinand E. Marcos, reduces the percentage tax on stock transactions from two percent to 0.25 percent. This change was prompted by concerns that the higher tax rate hindered stock market activity and negatively impacted various industries. The decree reflects the consensus among fiscal and economic experts that a lower tax rate would stimulate transactions. The adjustment aims to enhance the operations of the financial markets and contribute to economic growth.
Law Information
- Reference Number
- Presidential Decree No. 10
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 3, 1972
PRESIDENTIAL DECREE NO. 10
REDUCING THE PERCENTAGE TAX ON STOCK TRANSACTIONS
WHEREAS, the imposition of the two per cent tax on stock transactions as prescribed in Republic Act No. 6141 has adversely affected transactions in stocks, and consequently slowed down operations of various industries; aisa dc
WHEREAS, fiscal and economic experts of the Government are agreed that the tax be reduced to a more reasonable rate;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines, and pursuant to Proclamation No. 1081, dated September 21, 1972, do hereby decree and order:
(1) That the percentage tax on stock transactions is hereby reduced from two per centum to one forth of one per centum.
DONE in the City of Manila, this 2nd day of October, in the year of Our Lord, Nineteen Hundred and Seventy-Two.
Cite This Law
Reducing the Percentage Tax on Stock Transactions, Presidential Decree No. 10, Oct 3, 1972 (Philippines)
Reducing the Percentage Tax on Stock Transactions, Presidential Decree No. 10 (Phil. 1972)
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