PRESIDENTIAL DECREE No. 1712

EXEMPTING ALL GIFTS, BEQUESTS, DONATIONS AND/OR CONTRIBUTIONS TO THE GINTONG ALAY EDUCATIONAL AND FUND CAMPAIGN FROM CERTAIN TAXES AND PROVIDING TAX ALLOWANCE THEREFOR

WHEREAS, under Letter of Instructions No. 955 issued on October 31, 1979, the President created Project Gintong Alay as the program for the development of athletics (track and field) in order to restore the Filipino athletes to their rightful place among world sports champions;

WHEREAS, Project Gintong Alay aims to develop, project and promote the concept of personal sacrifice, dedication, and commitment in the pursuit of national goals as integral to the Filipino way of life;

WHEREAS, the President has identified Gintong Alay as the national sports development program of the country aimed at helping win gold medals for Filipino athletes in forthcoming international competitions;

WHEREAS, the task of a year-round sustained scientific training program requires sufficient funds, materials and resources;

WHEREAS, the President issued Proclamation No. 1922 on November 7, 1979 authorizing Gintong Alay to conduct an educational and fund campaign to help generate funds for the project;

WHEREAS, on May 2, 1980, the President expanded the scope of Gintong Alay to include the development of 17 other sports and reiterated his call for both the government and private sectors to support the Project Gintong Alay and its educational and fund campaign; and

WHEREAS, the government recognizes the necessity of encouraging and motivating the citizenry into supporting the drive as a national sport renaissance program;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby decree and order:

Section 1. Any provision of law, decree, rules and regulations be the contrary notwithstanding, all gifts, bequests, donations and/or contributions to the Gintong Alay Educational and Fund Campaign shall be exempt from donor's and estate taxes and shall be deductible in full in computing the taxable net income of the donor.

Section 2. All laws, decrees, orders, rules and regulations inconsistent herewith are hereby repealed, amended or modified accordingly.

Section 3. This Decree shall take effect immediately.

Done in the City of Manila, this 17th day of August, in the year of Our Lord, nineteen hundred and eighty.