Preamble
WHEREAS, Presidential Decree No. 15, as amended by Presidential Decree No. 1444, exempts the Cultural Center of the Philippines (CCP) from taxes except income tax for its business operations; WHEREAS, Presidential Decree No. 1815, further amended said Decrees by imposing all taxes on the business ventures of the Center; WHEREAS, the government is committed to assist the cultural projects of the Center and has in fact given subsidy to the said Center; WHEREAS, the Center requires further subsidy from the government commensurate to the tax exemptions enjoyed under P.D. 1444, as repealed by P.D. 1815; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order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;