PRESIDENTIAL DECREE NO. 863, December 29, 1975
AMENDING SECTION 9 OF THE LOCAL TAX CODE
virtue of the powers in me vested by the Constitution, hereby order and
decree:
SECTION 1. Section 9, Article 1, Chapter II of Presidential
Decree No. 231, otherwise known as the Local Tax Code, is hereby amended
to read as follows:
“SEC. 9. Franchise Tax—Any provision of special laws to the
contrary notwithstanding, the province may impose a tax on businesses
enjoying franchise, based on the gross receipts realized within its
territorial jurisdiction, at the rate not exceeding one-half of one
per cent of the gross annual receipts for the preceding calendar year;
provided, however, that the franchise tax authorized in this section
shall not be imposed on broadcast radio stations and television firms
duly registered with the Broadcast Media Council created under
Presidential Decree No. 576.* * * * * * *
SEC. 2. All laws, decrees, executive orders, rules or
regulations which are in conflict or inconsistent with this Decree are
hereby amended, modified or repealed accordingly.
SEC. 3. This Decree shall take effect immediately.
Done in the City of Manila, this 29th day of December, in the
year of Our Lord, nineteen hundred and seventy-five.
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(Sgd.)
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FERDINAND E. MARCOS | ||||||||
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President
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By the President: | ||||||||
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(Sgd.)
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JUAN C. TUVERA | ||||||||
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Presidential Assistant
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