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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1455 |
The Acting Commissioner of Customs
The Commissioner of Internal Revenue
All Concerned
WHEREAS, the Philippine Heart Center for Asia (PHCA) was created under Presidential Decree No. 673 in line with the State policy to establish, maintain and ensure adequate specialized health services;
WHEREAS, to accomplish its objectives, the PHCA has devoted seventy per cent (70%) of its patient load to charity cases;
WHEREAS, to maintain and sustain its operations particularly its free and subsidized medical services to a large number of underprivileged or financially handicapped individuals, it is necessary that PHCA continues to receive the privileges granted by the Government;
WHEREAS, on June 11, 1984, Presidential Decree No. 1931 was promulgated directing the rationalization of duty and tax exemption privileges granted to government-owned or controlled corporations and all other units of the Government;
WHEREAS, the exemption of the PHCA from the payment of all taxes, duties, fees and charges for a period of ten (10) years is about to expire;
WHEREAS, the withdrawal of the duty and tax exemption privileges of the PHCA would cause the dislocation of its financial structure and virtually defeat the purpose for which it was established;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and by Law, do hereby order and direct that;
1.
The Philippine Heart Center for Asia shall continue to be exempt
without interruption from the payment of all taxes, fees and charges,
tariff and import duties imposed by the Government or any of its
agencies, bureaus, subdivision, or instrumentalities thereof.
2. The
Philippine Heart Center for Asia is hereby exempted from the provisions
of Presidential Decree No. 1936.
3. All
donations, contributions or endowments which may be made by entities or
persons to the Philippine Heart Center for Asia shall continue to be
exempt from income and gift taxes, and the same shall be further
deductible in full for purposes of computing the maximum amount
deductible under Sec. 30, paragraph (h) of the National Internal
Revenue Code, as amended.
4. This Letter
of Instruction shall take effect immediately.
DONE in the City of Manila, this 12th day of April in the year of Our Lord, Nineteen Hundred and Eighty-Five.
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