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PRESIDENTIAL DECREE NO. 1157
PRESIDENTIAL DECREE NO. 1157 -
INCREASING THE RATES OF TAX ON WINNINGS IN JAI-ALAI AND HORSE-RACING
AND THE SHARE OF THE GOVERNMENT FROM THE SWEEPSTAKES TOTAL PRIZE FUND
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WHEREAS,
the rising need for additional revenues for accelerated national
development has rendered it imperative for the Government to tap
sources from which this might equitably be derived;chanroblesvirtualawlibrary
WHEREAS, the primary justification for the existence and maintenance of
gambling establishments is the allocation of a portion of the income
derived therefrom to worthwhile projects such as charitable activities
and the upkeep of the Government;chanroblesvirtualawlibrary
WHEREAS, aside from its revenue potential, moral and economic reasons
justify the imposition of higher taxes on legalized gambling; chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution of the
Philippines, do hereby order and decree that:cralaw:red
Section 1. Section 260-A of the National Internal
Revenue Code, as amended, is hereby further amended to read as follows:cralaw:red
"Sec. 260-A. Tax on Winnings. — Every person who wins
in horse races or Jai-Alai shall pay a tax equivalent to ten per cent
of his winnings or "dividends", the tax to be based on the actual
amount paid to him for every winning ticket after deducting the cost of
the ticket. The tax herein prescribed shall be deducted from the
"dividends corresponding to each winning ticket and withheld by the
operator, manager, or person in charge of the horse-races or Jai-Alai
before paying the "dividends" to the person entitled thereto. The same
tax shall be collected from owners of winning race horses at the same
time and in the same manner above"
Section 2. Section 4 of the Republic Act Numbered
1169 is hereby amended to read as follows:cralaw:red
"Sec. 4. Holding of sweepstakes. — The Office shall
hold charity horse race sweepstakes under such regulations as shall be
promulgated by the Board in accordance with Republic Act Numbered 309:
Provided, however, That when the holding of a sweepstakes race to
determine prizes is impossible due to war, public calamity, or other
unforeseen or fortuitous event, or when there is no sufficient number
of horses to determine the major prizes, the Board of Directors may
determine the procedure to be followed in the distribution of prizes in
the most just, equitable and expeditious manner. The horse races and
the sale of tickets in the said sweepstakes shall be exempt from all
taxes, except that each ticket shall bear a twelve-centavo internal
revenue stamp and that from the total prize funds as provided herein
from the proceeds of the sale of tickets, there shall be deducted an
amount equivalent to five per centum of such total price, which shall
be paid to the Bureau of Internal Revenue not later than ten days after
each sweepstakes in lieu of the income tax heretofore collected from
sweepstakes prize winners: Provided, however, That any prizes that may
be paid out from the resulting prize fund, after said five per centum
has been deducted, shall be exempt from income tax. The tickets shall
be printed by the government and shall be considered government
securities for the purposes of penalizing forgery or alteration." chanroblesvirtualawlibrary
Section 3. Effective Date. — This Decree shall take
effect immediately.
DONE IN THE CITY OF MANILA,
this 3rd day of June, in the Year of Our Lord, Nineteen Hundred and
Seventy-Seven.
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