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PRESIDENTIAL DECREE NO. 1933
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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; chanroblesvirtualawlibrary
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;chanroblesvirtualawlibrary
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 Section 290-B of the
Internal Revenue Code, as amended, do hereby direct and order that:cralaw:red
Section 1. Section 154 of the National Internal
Revenue Code of 1977, as amended, is further amended to read as follows:cralaw:red
"Sec. 154. Specific Tax on Coal. — On all coal and
coke, there shall be collected, per metric ton, fifty pesos. chanroblesvirtualawlibrary
Section 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inconsistent herewith are hereby repealed or modified accordingly.
Section 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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