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PRESIDENTIAL DECREE NO. 1129
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PRESIDENTIAL DECREE NO. 1129 -
FURTHER AMENDING REPUBLIC ACT NO. 3538 BY EXTENDING TAX EXEMPTIONS TO
NON-FILIPINO PERSONNEL OF THE AMERICAN KOR-ASIAN FOUNDATION INC
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WHEREAS,
Section 27(E) of Presidential Decree No. 69, as amended, exempts for
tax purposes, among others, corporations or associations organized and
operated exclusively for charitable purposes; chanroblesvirtualawlibrary
WHEREAS, Republic Act No. 3538, as amended, exempts the Ford
Foundation, the Rockefeller Foundation, the Agricultural Development
Council, Inc., and Foster Parents Plan, Inc., from the payment of
gifts, franchise, specific percentage, real property taxes and the
foreign personnel engaged by them from the payment of income taxes;chanroblesvirtualawlibrary
WHEREAS, the American Kor-Asian Foundation, Inc., is likewise exempted
from the payment of the abovementioned taxes pursuant to Section 27(E)
of Presidential Decree No. 69, as amended; and
WHEREAS, as a matter of policy non-Filipino personnel of foreign
corporations or associations organized and operated exclusively for
charitable purposes should be exempted from payment of income taxes on
their salaries and stipends in dollars received by them by reason of
their services rendered to said corporations or associations; chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and decree:cralaw:red
Section 1. Any provision of law to the contrary
notwithstanding, non-Filipino citizens serving on the staff of American
Kor-Asian Foundation, Inc., an association organized exclusively for
charitable purposes, shall be exempted from the payment of income taxes
on their salaries and stipends in dollars received by them by reason of
services rendered to the American Kor-Asian Foundation, Inc.
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 25th day of April, in the year of Our Lord, nineteen hundred and
seventy-seven.
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