Grant of Subsidy to Petroleum Dealers Affected by New Rate of Privilege Tax
Letter of Instructions No. 663, issued on January 27, 1978, directs the Secretary of the Department of Energy and the Secretary of the Department of Finance to provide subsidies to affected petroleum dealers in response to increased privilege taxes under Presidential Decree No. 1158-A. The Department of Energy is tasked with developing the necessary rules and regulations for the subsidy implementation. Additionally, the National Economic and Development Authority must collaborate with the other departments to submit recommendations on the taxation of petroleum dealers within 90 days. This action aims to alleviate the financial burden on gasoline dealers resulting from the new tax rates.
Law Information
- Reference Number
- Letter of Instructions No. 663
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
January 27, 1978
LETTER OF INSTRUCTIONS NO. 663
| TO | : | The Secretary, Department of Energy |
| The Secretary, Department of Finance | ||
| The Director-General, National Economic & Development Authority |
In view of the representations of the gasoline dealers with respect to the new rate of privilege tax provided under Presidential Decree No. 1158-A, the following instructions are hereby issued: cdt
1. Out of the funds of the Department of Energy, the affected petroleum dealers shall receive subsidy to the extent of the additional privilege tax. The Department of Energy shall, in consultation with the Department of Finance, formulate the rules and regulations to implement the subsidy operations.
2. The Director-General, National Economic and Development Authority, in coordination with the Department of Energy and the Department of Finance, shall submit within ninety (90) days from receipt of this instruction recommendations with respect to the taxation of petroleum dealers.
DONE in the City of Manila, this 27th day of January, in the year of Our Lord, Nineteen Hundred and Seventy-Eight.
Cite This Law
Grant of Subsidy to Petroleum Dealers Affected by New Rate of Privilege Tax, Letter of Instructions No. 663, Jan 27, 1978 (Philippines)
Grant of Subsidy to Petroleum Dealers Affected by New Rate of Privilege Tax, Letter of Instructions No. 663 (Phil. 1978)
Related Laws
- Release of Funds to Cover Payment of Privilege Tax Subsidies to Petroleum DealersLetter of Instructions No. 907 • Aug 8, 1979 • Presidential Issuances
- Withdrawal of Tax-Exemption Privilege Granted to PAL on Its Purchase of Domestic Petroleum ProductsLetter of Instructions No. 1483 • Oct 31, 1985 • Presidential Issuances
- Limitation of Tax-Free Purchase of Petroleum Products by the AFP-CES for ResaleLetter of Instructions No. 847 • Apr 18, 1979 • Presidential Issuances
- Periodic Reviews by the Board of Energy of the Price of Domestic Petroleum ProductsLetter of Instructions No. 1460 • May 9, 1985 • Presidential Issuances
- Continued Tax and Duty Free Importation of Petroleum ProductsLetter of Instructions No. 839 • Mar 31, 1979 • Presidential Issuances
- Establishment and Operation of Bonded Warehouse(s) for Conversion of Supply Base(s) for PetroleumLetter of Instructions No. 563 • Jun 24, 1977 • Presidential Issuances
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