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PRESIDENTIAL DECREE NO. 10
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PRESIDENTIAL DECREE NO. 10 -
REDUCING THE PERCENTAGE TAX ON STOCK TRANSLATIONS
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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; chanroblesvirtualawlibrary
WHEREAS, fiscal and economic experts of the Government are agreed that
the tax be reduced to a more reasonable rate;chanroblesvirtualawlibrary
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: chanroblesvirtualawlibrary
(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.
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