Authority and Basis for the Decree
- Enacted pursuant to Section 20 of Batas Pambansa Blg. 391 (Investment Incentives Policy Act of 1983), which empowers the President to rationalize incentive systems.
- Responds to the severe economic crisis viewed as a grave emergency threatening national stability.
- Forms part of a national economic recovery program aiming for efficient and meaningful incentives aligned with economic development objectives.
Implementation and Rulemaking
- The Ministry of Finance is tasked to issue the necessary rules and regulations to enforce this Decree effectively.
- This implies a centralized regulatory oversight ensuring consistent application across entities.
Repeal and Amendment of Conflicting Laws
- Any existing laws, decrees, executive orders, administrative orders, rules, regulations, or parts of these that conflict with the provisions of this Decree are considered repealed, amended, or modified accordingly.
Effectivity Clause
- The Decree took effect immediately on October 15, 1984, providing a clear implementation timeline.
Legal and Executive Authority
- Issued by the President of the Philippines, Ferdinand E. Marcos, exercising constitutional powers.
- Officially executed and promulgated in Manila on October 10, 1984, underscoring the decree’s legal validity and authority.