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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 507 - IMPOSING
AN ADDITIONAL 10% SALES TAX ON IMPORTED AIR-CONDITIONING UNITS,
COMPONENTS AND PARTS
WHEREAS,
local manufacturers of air-conditioning units, components and parts are
registered under an existing local content program of the Board of
Investments;
WHEREAS, the Board of Investments have determined, thru a yearly review
of local capability, the components which can be locally manufactured,
and have required their manufacture and/or use, in lieu of imported
components, by existing assemblers;
WHEREAS, these assemblers have invested time and money to manufacture
these components;
WHEREAS, it is unfair to treat them, tax wise, as importers or mere
assemblers of said product out of imported components;
WHEREAS, to protect our local air-conditioning industry, a tax
differential for locally manufactured and imported air-conditioning
units, components and parts must be restored.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution and by Section 193(c) of Presidential Decree No. 1358, do hereby order as follows:
Section 1.
Sec. 2.
Sec. 3.
Done in the City of Manila,
this 14th day of July, in the year of Our Lord, Nineteen Hundred and
Seventy-Eight.
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