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PRESIDENTIAL DECREE NO. 318
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PRESIDENTIAL DECREE NO. 318
- LIMITING THE POWER OF CITIES TO INCREASE TAX ON PETROLEUM PRODUCTS
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chanroblesvirtualawlibrary
I,
FERDINAND E. MARCOS, President of the Philippines, by virtue of the
powers in me vested by the Constitution as Commander-in-Chief of the
Armed Forces of the Philippines, and pursuant to Proclamation No. 1081,
dated September 21, 1972, and General Order No. 1, dated September 22,
1972, do hereby order and decree:cralaw:red
That notwithstanding the provisions of Section 24 of Article 3, Chapter
II of the Local Tax Code, the cities shall not increase the rate of
taxes imposed by them on petroleum products and prevailing at the time
of the promulgation of the order of the Oil Industry Commission dated
October 20, 1973, increasing the price of petroleum products which is
likewise the date of effectivity of Presidential Decree No. 314,
increasing the specific tax on petroleum
products. chanroblesvirtualawlibrary
Done in the City of Manila,
this 22nd day of October, in the year of Our Lord, nineteen hundred and
seventy-three.
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