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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 499 -
GOVERNING THE RELEASE OF TRAVEL TAXES COLLECTED UNDER R.A. NO. 1478 AND
6141 (AS AMENDED)
WHEREAS,
travel taxes collected under R.A. No. 1478 and 6141, as amended by P.D.
No. 1183 and 1205 are the primary sources of funding for the operating
expenses of the Philippine Tourism Authority, including those for
tourism development projects approved by the President;
WHEREAS, P.D. No. 1234 institutes a procedure for the management of
Special and Fiduciary Funds of the national government;
WHEREAS, it is necessary to have an efficient mechanism for the release
of travel tax proceeds to the Philippine Tourism Authority while
maintaining an adequate system of fiscal control.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution and by Sec. 3
of P.D. No. 1234, do hereby approve and order a fund release mechanism
to the Philippine Tourism Authority of travel tax proceeds;
Section 1.
Sec. 2.
Sec. 3.
Done in the City of Manila,
this 15th day of February, in the year of Our Lord, nineteen hundred
and seventy-eight.
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