QuestionsQuestions (PRESIDENTIAL DECREE NO. 486)
All prizes in cash or in kind, including talent fees and gifts given to the winning candidates and participants in the Miss Universe Beauty Pageant during and in connection with the pageant.
It limits the tax exemption to prizes/talent fees/gifts given during the pageant period and as part of the pageant activities (i.e., connected to the Miss Universe Beauty Pageant).
It covers both the winning candidates and the participants.
The decree exempts prizes from “any and all taxes due to the Philippine Government,” i.e., all national taxes due to the government for those prize-related amounts.
They are exempt from all customs duties and taxes (or bonds in lieu thereof) when brought to the Philippines for use in covering the pageant.
The technical crew of Miss Universe Inc. brings the equipment and facilities into the Philippines.
The listing, specifications, and details of the equipment and facilities must be furnished to the Commissioner of Customs and the Department of Tourism.
None of the equipment and facilities shall remain in the Philippines after the pageant; otherwise, full customs duties shall be levied and collected on them.
The Commissioner of Customs and the Department of Tourism.
Under Section 3, the Secretary of Finance must promulgate the necessary rules and regulations to implement the decree.
It took effect immediately upon approval (19 June 1974).
To extend courtesy and good will to the participating beauty representatives, as the Philippines will host the 1974 Miss Universe Beauty Pageant in Manila.
Section 1 covers tax exemption on cash/in-kind prizes and related gifts/talent fees for candidates and participants; Section 2 covers exemptions from customs duties/taxes (or bonds) for technical equipment and facilities brought for coverage, subject to listing and re-export conditions.
No explicit date range is stated; the exemption is conditioned on the prizes being given during and in connection with the pageant.
It illustrates how special laws can grant tax exemptions, specify covered items (prizes vs. imported equipment), and impose conditions (submission of specifications; removal/re-export) that affect whether exemptions apply.