PHILIPPINE LAWS, STATUTES, CODES & ISSUANCES
PHILIPPINE LAWS, STATUTES AND CODES
PRESIDENTIAL DECREES
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PRESIDENTIAL DECREE NO. 1933 -
AMENDING Section 154 OF THE INTERNAL REVENUE CODE BY INCREASING THE
SPECIFIC TAX ON COAL AND COKE
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| WHEREAS,
the prevailing specific tax on coal and coke is significantly out of
line with the value of these products; WHEREAS, the corresponding duties and taxes on alternative sources and alternative mineral fuels are significantly higher resulting in excessive price distortions in favor of domestic coal and coke; WHEREAS, such distortions should be corrected to a level that will still maintain a reasonable margin in favor of domestic producers. NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me under Sec. 290-B of the Internal Revenue Code, as amended, do hereby direct and order that: Section 1. Section 154 of the National Internal Revenue Code of 1977, as amended, is further amended to read as follows: "Sec. 154. Specific Tax on Coal. � On all coal and coke, there shall be collected, per metric ton, fifty pesos. Sec. 2. Repealing Clause. � Provisions of any general or specific laws, decrees or orders which are in conflict or inconsistent herewith are hereby repealed or modified accordingly. Sec. 3. Effectivity. � This Order shall take effect on August 1, 1984. Done in the City of Manila, this 11th day of June, in the Year of Our Lord, Nineteen Hundred and Eighty-Four. |
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08.10.05.