Preamble
WHEREAS, pursuant to Presidential Decree No. 15 as last amended by Presidential Decree No. 1444, the hotel business of the Cultural Center of the Philippines, under the trade name Philippine Plaza Hotel, is exempt from all forms of taxation, except income tax; WHEREAS, the tax-exemption now being enjoyed by the Philippine Plaza Hotel places it at an undue advantage over the other hotels which are required by law to pay taxes. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: