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REPUBLIC ACT NO. 7171 - AN ACT TO
PROMOTE THE DEVELOPMENT OF THE FARMERS IN THE VIRGINIA
TOBACCO-PRODUCING PROVINCES Section 1. Declaration of Policy. — It is hereby declared to be the policy of the government to extend special support to the farmers of the Virginia tobacco-producing provinces inasmuch as these farmers are the nucleus of the Virginia tobacco industry which generates a sizeable income, in terms of excise taxes from locally manufactured Virginia-type cigarettes and customs duties on imported blending tobacco, for the National Government. For the reason stated, it is hereby further declared that the special support for these provinces shall be in terms of financial assistance for developmental projects to be implemented by the local governments of the provinces concerned. Sec. 2. Objectives. — The special support to the
Virginia tobacco-producing provinces shall be utilized to advance the
self-reliance of the tobacco farmers through: Sec. 3. Financing and Remittance. — The financial
support given by the National Government for the beneficiary provinces
shall be constituted and collected from the proceeds of fifteen percent
(15%) of the existence taxes on locally manufactured Virginia-type of
cigarettes. Sec. 4. Repealing and Amending Clause. — All enactments, legislative acts and rules and regulations inconsistent or incompatible with the provisions of this Act are hereby repealed. Sec. 5. Effectivity Clause. — This Act shall take
effect upon its approval. Approved: January 9, 1992 |
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