Creation of Anti-Dollar Salting Task Force

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EXECUTIVE ORDER NO. 934: Creation of Anti-Dollar Salting Task Force

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Title Supreme Court: Creation of Anti-Dollar Salting Task Force

Law: Executive Order No. 934

Decision Date: Feb 13, 1984

To address economic difficulties, President Marcos issued Executive Order No. 934 in 1984, creating the Presidential Anti-Dollar Salting Task Force to combat the illegal hoarding of foreign exchange, with the task force empowered to investigate and prosecute cases of dollar salting activities.

presidential task force

executive order

economic difficulties

A

Mandate and Powers of the Task Force

Authorized to gather evidence related to dollar salting activities.
Empowered to investigate cases involving dollar salting.
Granted authority to prosecute violations related to dollar salting, including overvaluation of imports and underdeclaration of exports.

Cooperation from Government Agencies

All government agencies and instrumentalities are required to extend full cooperation to the Task Force.

Governing Legal Framework for Prosecution

Prosecution of dollar salters is governed by Presidential Decree No. 1883.
This decree defines crimes of blackmarketing and salting of foreign exchange and imposes increased penalties on offenders.

Effectivity

The Executive Order takes effect immediately upon issuance.

END