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PRESIDENTIAL DECREE NO. 1712
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PRESIDENTIAL DECREE NO. 1712 -
EXEMPTING ALL GIFTS, BEQUESTS, DONATIONS AND/OR CONTRIBUTIONS TO THE
GINTONG ALAY EDUCATIONAL AND FUND CAMPAIGN FROM CERTAIN TAXES AND
PROVIDING TAX ALLOWANCE THEREFOR
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WHEREAS,
under Letter of Instructions No. 955 issued on October 31, 1979, the
President created Project Gintong Alay as the program for the
development of athletics (track and field) in order to restore the
Filipino athletes to their rightful place among world sports
champions; chanroblesvirtualawlibrary
WHEREAS, Project Gintong Alayms to develop, project and promote the
concept of personal sacrifice, dedication, and commitment in the
pursuit of national goals as integral to the Filipino way of life;chanroblesvirtualawlibrary
WHEREAS, the President has identified Gintong Alay as the national
sports development program of the countrymed at helping win gold medals
for Filipino athletes in forthcoming international competitions;chanroblesvirtualawlibrary
WHEREAS, the task of a year-round sustained scientific training program
requires sufficient funds, materials and resources;chanroblesvirtualawlibrary
WHEREAS, the President issued Proclamation No. 1922 on November 7, 1979
authorizing Gintong Alay to conduct an educational and fund campaign to
help generate funds for the project;chanroblesvirtualawlibrary
WHEREAS, on May 2, 1980, the President expanded the scope of Gintong
Alay to include the development of 17 other sports and reiterated his
call for both the government and private sectors to support the Project
Gintong Alay and its educational and fund campaign; and
WHEREAS, the government recognizes the necessity of encouraging and
motivating the citizenry into supporting the drive as a national sport
renaissance program.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
decree and order: chanroblesvirtualawlibrary
Section 1. Any provision of law, decree, rules and
regulations be the contrary notwithstanding, all gifts, bequests,
donations and/or contributions to the Gintong Alay Educational and Fund
Campaign shall be exempt from donor's and estate taxes and shall be
deductible in full in computing the taxable net income of the donor.
Section 2. All laws, decrees, orders, rules and
regulations inconsistent herewith are hereby repealed, amended or
modified accordingly.
Section 3. This Decree shall take effect immediately.
Done in the City of Manila,
this 17th day of August, in the year of Our Lord, nineteen hundred and
eighty.
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