Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy
Letter of Instructions No. 940, issued on October 4, 1979, by President Ferdinand E. Marcos, emphasizes the Philippine government's commitment to the development of the coconut and palm oil industry, ensuring that coconut farmers directly benefit from this growth. It establishes a classification for levy payors under the Coconut Consumers Stabilization Fund (CCSF), specifically targeting companies owned or controlled by coconut farmers and certain authorized private corporations. To promote exports of coconut products, the Philippine Coconut Authority can impose a CCSF levy on non-participating entities at a rate up to double that of the farmer-owned entities. The directive is effective immediately, reinforcing the state's policy to enhance the viability of the coconut industry.
Quick Answers
- What is Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy about?
- Letter of Instructions No. 940, issued on October 4, 1979, by President Ferdinand E. Marcos, emphasizes the Philippine government's commitment to the development of the coconut and palm oil industry, ensuring that coconut farmers directly benefit from this growth. It establishes a classification for levy payors under the Coconut Consumers Stabilization Fund (CCSF), specifically targeting companies owned or controlled by coconut farmers and certain authorized private corporations. To promote exports of coconut products, the Philippine Coconut Authority can impose a CCSF levy on non-participating entities at a rate up to double that of the farmer-owned entities. The directive is effective immediately, reinforcing the state's policy to enhance the viability of the coconut industry.
- What type of law is Letter of Instructions No. 940?
- Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy (Letter of Instructions No. 940) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
- When was Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy enacted?
- Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy (Letter of Instructions No. 940) was enacted on Oct 4, 1979.
- What is the citation for Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy?
- Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy, Letter of Instructions No. 940, Oct 4, 1979 (Philippines)
Law Information
- Reference Number
- Letter of Instructions No. 940
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
October 4, 1979
LETTER OF INSTRUCTIONS NO. 940
TO : The Philippine Coconut Authority
WHEREAS, it is the declared policy of the State to promote the rapid integrated development and growth of the coconut and other palm oils industry in all its aspects and to insure that the coconut farmers become direct participants in, and beneficiaries of, such growth and development;
WHEREAS, to insure the viability, growth and development of the coconut industry for the benefit of the coconut farmers, the export of copra, coconut oil and their by-products through companies owned or controlled by the coconut farmers must be encouraged;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order as follows:
SECTION 1. Classification. — In the imposition and collection of the Coconut Consumers Stabilization Fund (CCSF) levy authorized under P.D. 1468, the Philippine Coconut Authority shall classify the following as a separate class of levy payors:
a) Companies owned or controlled by the coconut farmers through the Coconut Industry Investment Fund (CIIF); aisa dc
b) The private corporation authorized to be organized under L.O.I. 926; and
c) The "Participating Mills" contemplated under L.O.I. 926.
SECTION 2. Levy Imposition. — To encourage the export of copra, coconut oil and their by-products through the entities specified in Section 1 hereof, the Philippine Coconut Authority may impose on and collect from copra exporters, oil millers, desiccators and other end-users of copra or its equivalent in other products which are not included among any of the entities specified in Section 1 hereof a rate of CCSF levy not more than twice the rate imposed on and collected from levy payors included among the entities specified in Section 1 hereof. The difference between such higher rate of CCSF levy and that imposed on entities specified in Section 1 hereof shall be allocated as part of the CIIF.
SECTION 3. Effectivity. — This Letter of Instructions shall be effective immediately. cd i
DONE in the City of Manila, this 4th day of October, in the year of Our Lord, Nineteen Hundred and Seventy-Nine.
Cite This Law
Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy, Letter of Instructions No. 940, Oct 4, 1979 (Philippines)
Imposition and Collection of Coconut Consumers Stabilization Fund (CCSF) Levy, Letter of Instructions No. 940 (Phil. 1979)
Related Laws
- Suspending the Collection of Coconut Consumers Stabilization Fund Levy and Similar LeviesPresidential Decree No. 1699 • May 27, 1980 • Presidential Issuances
- Establishing a Coconut Consumers Stabilization FundPresidential Decree No. 276 • Aug 20, 1973 • Presidential Issuances
- Establishment, Administration, Operation, and Utilization of the Coconut Consumers Stabilization FundLetter of Instructions No. 857 • May 4, 1979 • Presidential Issuances
- Administrative Guidelines for the Reconveyance and Utilization of Coco Levy Assets for the Benefit of Coconut FarmersExecutive Order No. 180 • Mar 18, 2015 • Presidential Issuances
- Prescribing a System of Financing Socio-Economic and Developmental Program for Coconut FarmersPresidential Decree No. 1841 • Oct 2, 1981 • Presidential Issuances
- Revised Coconut Industry CodePresidential Decree No. 1468 • Jun 11, 1978 • Presidential Issuances
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