PRESIDENTIAL DECREE NO. 318, October 22, 1973
LIMITING THE POWER OF CITIES TO INCREASE TAX ON PETROLEUM PRODUCTS
Presidential Decrees October 22, 1973
I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081, dated September 21, 1972, and
General Order No. 1, dated September 22, 1972, do hereby order and
decree:
Philippines, by virtue of the powers in me vested by the Constitution as
Commander-in-Chief of all the Armed Forces of the Philippines, and
pursuant to Proclamation No. 1081, dated September 21, 1972, and
General Order No. 1, dated September 22, 1972, do hereby order and
decree:
That notwithstanding the provisions of Section 24 of Article 3,
Chapter II of the Local Tax Code, the cities shall not increase the rate
of taxes imposed by them on petroleum products and prevailing at the
time of the promulgation of the order of the Oil Industry Commission,
dated October 20, 1973, increasing the price of petroleum products which
is likewise the date of effectivity of Presidential Decree No. 314,
increasing the specific tax on petroleum products.
Done in the
City of Manila, this 22nd day of October, in the year of Our Lord,
nineteen hundred and seventy-three.
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(Sgd.) FERDINAND E. MARCOS
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President
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Republic of the Philippines
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| By the President: | ||
| (Sgd.) ROBERTO V. REYES | ||
| Assistant Executive Secretary | ||