Publishing LOI No. 664, Suspending Until Further Studies the Implementation of Section 192 of the Tax Code of 1977 Increasing Taxes on Annual Gross Sales as Far as Rice and Corn Are Concerned

February 28, 1978 REVENUE MEMORANDUM CIRCULAR NO. 025-78 SUBJECT : Publishing LOI No. 664, Suspending Until Further Studies the Implementation of Section 192 of the Tax Code of 1977 Increasing Taxes on Annual Gross Sales as Far as Rice and Corn Are Concerned TO : All Internal Revenue Officers Concerned For the information and guidance of all those concerned, there is quoted hereunder Letter of Instructions No. 664 dated January 28, 1978. ''LETTER OF INSTRUCTIONS NO. 664 "TO : THE SECRETARY OF FINANCE THE COMMISSIONER, BUREAU OF INTERNAL REVENUE ALL CONCERNED "IN LINE WITH THE POLICY OF THE GOVERNMENT TO PROVIDE CONTINUOUS FOOD SUPPLY TO THE NATION WITHIN THE REACH OF THE GREATER MASSES OF OUR PEOPLE, YOU ARE HEREBY DIRECTED TO SUSPEND UNTIL FURTHER STUDIES THE IMPLEMENTATION OF SECTION 192 OF THE NATIONAL INTERNAL REVENUE CODE OF 1977 INCREASING TAXES ON ANNUAL GROSS SALES AS FAR AS RICE AND CORN ARE CONCERNED. "THIS LETTER OF INSTRUCTION SHALL TAKE EFFECT IMMEDIATELY. "DONE IN THE CITY OF MANILA, THIS 28th DAY OF JANUARY, IN THE YEAR OF OUR LORD, NINETEEN HUNDRED AND SEVENTY-EIGHT. "(SGD) FERDINAND E. MARCOS President of the Philippines All Internal Revenue Officers and others concerned are enjoined to be guided accordingly and to give this Circular as wide a publicity as possible. aisa dc EFREN I. PLANA Acting Commissioner of Internal Revenue TAN-P4519-F2828-A-8