Reassessment and Collection of Export Taxes and Premium Duties Due from NASUTRA
Letter of Instructions No. 1281, issued on December 22, 1982, directs the Commissioner of the Bureau of Customs to reassess and collect export taxes and premium duties from the National Sugar Trading Corporation (NASUTRA) for sugar exportations dating back to 1978. The export duty will be calculated based on the gross FOB value at the time of shipment, using the current exchange rate. Additionally, the premium duty will be determined using specified base prices for each relevant year from 1978 to 1982. This directive is effective immediately.
Law Information
- Reference Number
- Letter of Instructions No. 1281
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
December 22, 1982
LETTER OF INSTRUCTIONS NO. 1281
| TO | : | The Commissioner |
| Bureau of Customs |
You are hereby directed to reassess and accordingly collect the export taxes and premium duties due from the National Sugar Trading Corporation (NASUTRA) on its exportations of sugar from 1978 in accordance with the schedule provided under Section 514 of the Tariff and Custom's Code, as amended, using the following bases:
1. In the case of the export duty, the same shall be computed on the gross FOB value upon shipment based on the prevailing rate of exchange at the time of exportation. acd
2. In the computation of the premium duty, the base prices for the periods covered shall be as follows:
1978 $303.04/MT
1979 $312.22/MT
1980 $377.52/MT
1981 $380.47/MT
1982 $358.72.MT
This Letter of Instructions shall take effect immediately.
DONE in the City of Manila, this 22nd day of December, in the year of Our Lord, Nineteen Hundred and Eighty-Two. casia
Cite This Law
Reassessment and Collection of Export Taxes and Premium Duties Due from NASUTRA, Letter of Instructions No. 1281, Dec 22, 1982 (Philippines)
Reassessment and Collection of Export Taxes and Premium Duties Due from NASUTRA, Letter of Instructions No. 1281 (Phil. 1982)
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