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: 

 

(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.

 

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