Official Gazette for April 12, 1973: THE PRESIDENT ordered the drafting of a final government stand regarding a tax policy on private educational institutions in consonance with an amendment in the new Constitution that deleted tax exemptions on real property used for educational purposes. The Chief Executive issued the order to Secretary of Finance Cesar E. A. Virata, Secretary of Education and Culture Juan Manuel, Director General Gerardo Sicat of the National Economic and Development Authority (NEDA), Internal Revenue Commissioner Misael P. Vera, Presidential Assistant Guillermo de Vega and Director Angel Q. Yoingco, of the National Tax Research Center. In the present Constitution, however, the tax exemption privilege for such real property devoted to educational purposes was removed and only those exclusively and directly used for cultural and charitable purposes are now exempted from taxes. It was for this reason that private education groups sought exemption for educational institutions from the operation of this constitutional provision.
CENTRAL BANK’S Monetary Board approved guidelines that will promote bank mergers or consolidations. CB Governor Gregorio S. Licaros, who is also concurrently chairman of the MB, said the guidelines principally affect the total resources of the entire banking system, the increase in minimum paid-in capital of banks, and the equity by foreign banks in local banking institutions. The guidelines provide that the paid-up capital base of the private sector of the commercial banking system should aggregate at least P3 billion within the next three years. To promote stability, existing banks would need a minimum of P100 million paid-in capital each within two years. Commercial banks and/or groups should submit within six months their respective programs by which they would achieve the minimum P100 million capital requirements. Should the aggregate of the banks’ viable capitalization programs submitted within six months be inadequate, the Central Bank shall fill the gap by entertaining applications for, and encouraging the establishment of, new banks with at least P100 million paid-in capital, until the total P3 billion paid-in capital target is reached.
DEPARTMENT OF NATIONAL Defense Secretary Juan Ponce Enrile has enjoined the country’s youth to involve themselves in national development and to follow the inspiration and guidance of the 1972 Ten Outstanding Young Men awardees during the recent awarding ceremonies of the prestigious annual research. The defense secretary said that the group of awardees exemplifies “the inquiring mind that is forever in search for scientific and moral truth, the rectitude of character that climbs the barriers of corruption, improbity and selfish opportunism and the courage to do what is right before God, fellowman and country.”
BUREAU OF INTERNAL REVENUE reported that revenue collections under Martial Law—from November, 1972, to March, 1973— totalled P1.7 billion, or an increase of more than 94 per cent over the collections made in the same period during the previous fiscal years. BIR Commissioner Misael P. Vera said that the total collections amounted to P1,717,373,757.37 while the collections for the same five-month period during fiscal year 1971-1972 totalled only P823,639,074.49. The BIR commissioner also reported that the following fund contributions from the gross collections: net to local government—P1,072,183,551.09; allotments to local governments—P348,783,799.22; and various special funds—P180,579,079.87. The tax information division also reported that another P5,561,533.94 in collections under the tax amnesty had been tabulated as of 6:00 p.m. of April 11. This brought the total collections to P536,460,934.32 which were paid by 136,842 filers accounting for 97 per cent of the completed collections from national and regional offices.
SECRETARY OF INFORMATION Francisco S. Tatad declared that the government needs the initiatives of the private sector in its efforts to solve the problems and burdens of peace. The secretary said that such cooperative endeavors are now evident in the Philippines where the government and the people joined hands fully “to attack basic social and economic problems that had long bound them along with the great masses of the peoples of Asia and Africa, in poverty, illiteracy, malnutrition and disease.” The secretary said it is appropriate that as war and destruction begin to lift from the face of Asia, representatives of Jaycees International (JCI) should meet in Quezon City to discuss certain problems that continue to exist with the emergence of peace. Mr. Tatad said that in a world where government is primarily the custodian of a people’s aspirations and interest, it is the government’s duty to gather together the most beneficient qualities that grow out of contemporary societies in order to create a new prototype.
COMMISSION ON IMMIGRATION and Deportation has noted an enthusiastic response by foreign tourists to the administration’s relaxed rules on tourism following the approval of the no-visa visit of two tourist groups made up
I attach a favorable column of the New York Times yesterday signed by our former guest, Cyrus Salzburger.
Tax Policy review at 9:00 AM with Sec. [Cesar] Virata and Com. [Misael] Vera.
10:00 AM-11:00 AM—Pulong pulong sa Kaunlaran. Extended the deadline for the tax amnesty in combat areas and those prevented by fortuitous events.
Met Mr. Strawbridge of Picker and Co.—Health and medical equipment.
Catholic Bishops on taxes on educational institutions.
12:30-4:00 PM—Luncheon conference on the Muslim-Sabah-Malaysia problem. I decided to write Pres. Soeharto thanking him for the help in Banghagi and the call by Minister [Adam] Malik to Tun Mustapha and suggesting he call a meeting of our three countries on the overall relations between us—not only on the Muslim question or Sabah but all problems.
I have authorized Atty. Perfecto de los Reyes to see Tun Mustapha and arrange a meeting with Kokoy [Benjamin Romualdez] in Hongkong.
of 37 Chinese nationals. Immigration Commissioner Edmundo M. Reyes said that the two Chinese groups were approved for entry under the auspices of Butterfield and Swire and Travel Advisers, Ltd., two prestigious tour agencies in Hongkong. The approval of the visits, according to the immigration commissioner, is pursuant to the administration’s policy to attract more tourists through relaxed visa requirements brought about by the changed peace and order condition in the country due to the imposition of Martial Law.
CIVIL SERVICE Commission has announced the schedules of examinations in May and June for doctors, nurses, therapists and dietitians. Examinations are as follows: 1) Physician examination fur the practice of medicine will be given on June 1, 4, 6 and 8. Applicants must file their applications with the office of the Board of Examiners not later than May 22. 2) Nurse examination for the practice of nursing will be given on May 21-25. Deadline for applications is May 11. 3) The first physical therapist and occupational therapist examinations will be given on June 2 and 9, respectively. Deadlines for applications are May 3 and 10, respectively. 4) Dietitian examination will be given on May 2, 4 and 7. Deadline for applications is April 23. All application must be filed with the office of the Board of Examiners located at P. Paredes-Nicanor Reyes Sr. Sts., Sampaloc, Manila.