GRANTING FOREIGN TOURISTS FIFTY PERCENT (50%) DISCOUNT OF THE AMUSEMENT TAX PROVIDED IN SECTION 260 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED

WHEREAS, the Government is committed to the policy of
developing tourism into a major dollar-earning industry;

WHEREAS, experience has shown that incentives previously
granted to tourists have been found to be effective; and

WHEREAS, additional incentives are believed necessary to
further accelerate the growth of tourism;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081, dated September 21, 1972, and General
Order No. 1, dated September 22, 1972, as amended, in order to effect
the desired changes, do order and decree that:

SECTION 1. All foreign tourists, upon proper identification,
shall be entitled to a fifty percent (50%) discount of the amusement
tax provided in Section two hundred and sixty of the National Internal
Revenue Code, as amended.

SEC. 2. The Secretary of Finance, upon recommendation of the
Commissioner of Internal Revenue, shall promulgate rules and
regulations to implement this Decree.

SEC. 3. This Decree shall take effect immediately.

SEC. 4. Any provision of existing laws, rules and
regulations in conflict with this Decree are hereby modified or repealed
accordingly.

Done in the City of Manila, this 7th day of February, in the year
of Our Lord, nineteen hundred and seventy-four.