Repealing Paragraph (e) of Section 184 of the NIRC
Presidential Decree No. 468, issued on May 23, 1974, repeals paragraph (e) of Section 184 of the National Internal Revenue Code, which imposed a 70% sales tax on certain sports equipment, including polo mallets, golf clubs, and chess sets. The decree aims to promote sports development in the Philippines and encourage international camaraderie through sports. By lowering the tax rate to 7% for these items, the government seeks to enhance its sports programs and facilitate broader participation. The decree takes immediate effect, overriding any conflicting laws or regulations.
Law Information
- Reference Number
- Presidential Decree No. 468
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Presidential Decrees
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
May 23, 1974
PRESIDENTIAL DECREE NO. 468
REPEALING PARAGRAPH (e) OF SECTION 184 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
WHEREAS, it is the policy of the State to encourage the development of sports not only to promote the physical fitness program of the Government but also to promote international understanding and camaraderie thru sports; casia
WHEREAS, the Philippines has been lately the site of various international competitions in sports, such as softball, basketball, chess, golf, etc.;
WHEREAS, it is noted that while all sporting goods are subject to the 7% sales tax, polo mallets and balls, golf bags, clubs and balls, chess and checker boards and pieces, remain subject to the prohibitive rate of 70% sales tax;
WHEREAS, in order to give meaning to the sports development program of the Government, it is necessary to amend certain portions of the National Internal Revenue Code;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution do hereby decree and order that paragraph (e) of Section 184 of the National Internal Revenue Code, as further amended by Presidential Decree No. 69, be, as it is hereby, repealed.
All laws, decrees, rules and regulations contrary to or inconsistent herewith are hereby modified or repealed accordingly.
This Decree shall take effect immediately.
DONE in the City of Manila, this 23rd day of May, in the year of Our Lord, Nineteen Hundred and Seventy-Four.
Cite This Law
Repealing Paragraph (e) of Section 184 of the NIRC, Presidential Decree No. 468, May 23, 1974 (Philippines)
Repealing Paragraph (e) of Section 184 of the NIRC, Presidential Decree No. 468 (Phil. 1974)
Related Laws
- Implementation of P.D. No. 468 Re: Importation of Golf BallsLetter of Instructions No. 195 • Jun 17, 1974 • Presidential Issuances
- Amending Paragraph (F), Section 126 of the NIRC As AmendedPresidential Decree No. 2009 • Jan 11, 1986 • Presidential Issuances
- Closure of Samar Island to Mining Location With Regard to Alumina and Related MineralsLetter of Instructions No. 184 • Apr 22, 1974 • Presidential Issuances
- Amending Par. (b), Section 20 of the NIRC of 1977 As AmendedPresidential Decree No. 1774 • Jan 14, 1981 • Presidential Issuances
- Amending Paragraph 7, AFP Special Provisions, P.D. No. 233 and Repealing General Order No. 14Presidential Decree No. 358 • Dec 30, 1973 • Presidential Issuances
- Regulations Implementing Section 249 (Interest) of the NIRC of 1997, as Amended under Section 75 of the TRAIN LawRevenue Regulations No. 21-18 • Sep 14, 2018 • Implementing Rules and Regulations
Browse More Presidential Issuances
Explore other laws in the Presidential Issuances category.
View All Presidential IssuancesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law