PRESIDENTIAL DECREE NO. 1388, May 26, 1978
AMENDING PRESIDENTIAL DECREE NO. 1349 DATED APRIL 13, 1978.
hereby amended to read as follows:
“SEC. 3. Any provision of law, executive order, rules or
regulations to the contrary notwithstanding, all donations or contributions made
by any person or entity to the Museum, including those received prior to its
formal constitution into a body corporate, shall be exempt from income and gift
taxes. Such donations or contributions shall be deductible in full from the
cross income of the person or entity making the donation or contribution and
shall be treated as a separate item of tax deduction in the sense that the same
shall not be included for purposes of computing the maximum, amount deductible
under Section 30, paragraph (h) of the National Internal Revenue Code, as
amended.”
SEC. 2. This Decree shall take effect immediately.
Done in the City of Manila, this 26th day of May, in the year of Our Lord,
nineteen hundred and seventy-eight.
(Sgd.) FERDINAND E. MARCOS
President of the
Philippines
By the President: (Sgd.) JUAN C. TUVERA Presidential Assistant