Release of Funds to Cover Payment of Privilege Tax Subsidies to Petroleum Dealers ( Letter of Instructions No. 907 )
August 08, 1979
August 8, 1979
LETTER OF INSTRUCTIONS NO. 907
| TO | : | The Minister of Energy |
| The Minister of Finance | ||
| The Minister of the Budget | ||
| The Treasurer of the Philippines |
Letter of Instruction No. 663 granted LPG and gasoline dealers a subsidy on their privilege tax payments equivalent to the increase in privilege tax rates provided for in Presidential Decree No. 1158-A. Said Letter of Instruction further provided that payments of said subsidy be made through the Ministry of Energy. casia
In view of the foregoing, the Treasurer of the Philippines is hereby directed to release to the Ministry of Energy the amount of P5.0 million out of the Special Fund created pursuant to Section 8(j) of Republic Act No. 6173 as amended to cover the payment of privilege tax subsidies to petroleum dealers for the year 1979.
The Ministry of Energy is hereby directed to submit to the President a report accounting for the disbursement and utilization of the foregoing funds.
This Letter of Instruction shall take effect immediately.
DONE in the City of Manila, this 8th day of August, in the year of Our Lord, Nineteen Hundred and Seventy-Nine.