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PRESIDENTIAL DECREE NO. 1045
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PRESIDENTIAL DECREE NO. 1045 -
DECLARING WITHOUT VALUE CERTAIN DENOMINATIONS OF DOCUMENTARY AND
SCIENCE STAMPS
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chanroblesvirtualawlibrary
WHEREAS,
the Government is incurring revenue losses due to the use of fake or
re-used documentary and science stamps; chanroblesvirtualawlibrary
WHEREAS, it is necessary to minimize if not eradicate this pernicious
cause of revenue loss;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, all existing documentary and science stamps in
denominations of ten pesos and above are hereby withdrawn from
circulation and declared without value. However, all persons in
possession of such documentary and science stamps are given three
months from the effective date of this decree to surrender such stamps
to the Bureau of Internal Revenue for the refund of the face
value thereof. chanroblesvirtualawlibrary
Section 2. Documentary and science stamps taxes of
ten pesos or more shall be paid to any authorized personnel of the
Bureau of Internal Revenue or to the tellers of any commercial bank, or
to such other banks as may hereinafter be authorized to accept payment
of internal revenue taxes, who shall issue the corresponding Official
Receipt therefor.
Section 3. No provision of this decree shall be
deemed to abate or condone the administrative, civil or criminal
liability of any person for acts committed before the enactment of this
decree.
Section 4. The Secretary of Finance, upon
recommendation of the Commissioner of Internal Revenue, shall issue the
necessary regulations for the implementation of this decree.
Section 5. All laws or parts of laws inconsistent
with the provisions of this decree are hereby repealed, modified or
amended accordingly.
Section 6. This decree shall take effect immediately.
Done in the City of Manila,
this 5th day of November in the year of Our Lord, nineteen hundred and
seventy-six.
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