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PRESIDENTIAL DECREE NO. 708
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PRESIDENTIAL DECREE NO. 708 -
AMENDING THE PROVISIONS PERTINENT TO THE GRANT OF REWARD UNDER REPUBLIC
ACT NO. 4712 AND REPUBLIC ACT NO. 4713, ENTITLED, "AN ACT AMENDING
CERTAIN SectionS OF THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES" AND
"AN ACT AMENDING CERTAIN SectionS OF COMMONWEALTH ACT NUMBERED FOUR
HUNDRED SIXTY-SIX AS AMENDED, OTHERWISE KNOWN AS THE NATIONAL INTERNAL
REVENUE CODE", RESPECTIVELY
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chanroblesvirtualawlibrary
I,
FERDINAND E. MARCOS, President of the Philippines, by virtue of the
powers vested in me by the Constitution, do hereby order and
decree: chanroblesvirtualawlibrary
Section 1. The provisions of Section 1 of R.A. No.
4712, and Section 5 of R.A. No. 4713, to the contrary notwithstanding,
the amount to be paid to persons instrumental in the discovery and
seizure of smuggled goods shall be limited to a cash reward equivalent
to five (5%) per centum of the fair market value thereof. chanroblesvirtualawlibrary
Section 2. All laws, acts, decrees, orders, and
regulations inconsistent herewith are deemed repealed and/or modified
accordingly.
Section 3. This Decree shall take effect upon its
approval.
DONE in the City of Manila,
this 27th day of May, in the year of Our Lord, nineteen hundred and
seventy-five.
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