Tax Exemption for Offshore Banking Units

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Republic Act No. 9294: Tax Exemption for Offshore Banking Units

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Title Source: Supreme Court: Holiday Declaration for Eid'l Adha 2024

Law: Proclamation No. 579

Decision Date: Jun 4, 2024

Monday, June 17, 2024, is declared a regular holiday nationwide to observe Eid'l Adha, following the recommendation of the National Commission on Muslim Filipinos and in accordance with Republic Act No. 9849.

Law Summary

Background and Significance of Eid'l Adha

Eid'l Adha is recognized as one of the two greatest feasts in Islam.
It commemorates the willingness of Ibrahim (Abraham) to sacrifice his son as an act of obedience to God.

Legal Basis for the Holiday

Republic Act No. 9849 provides the foundation for declaring the Tenth day of Zhul Hijja, the twelfth month of the Islamic lunar calendar, as a national holiday for Eid'l Adha.
The date of celebration is movable and depends on the Islamic lunar calendar.

Recommendation by the National Commission on Muslim Filipinos

The National Commission on Muslim Filipinos recommended June 17, 2024, based on the 1445 Hijrah Islamic lunar calendar, for the observance of Eid'l Adha.

Authority and Effectivity

The proclamation is issued by the Executive Secretary, Lucas P. Bersamin, under the authority of President Ferdinand R. Marcos Jr.
The declaration enforces the holiday status for the entire country on the specified date.

Formalities

The proclamation was signed and sealed in the City of Manila on June 4, 2024.
The legal effect is nationwide, mandating the observance of Eid'l Adha as a regular holiday on the declared date.

END