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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 792 -
IMPLEMENTING THE FINAL 25% INCREASE IN DISTILLED SPIRITS, WINES,
COMPOUNDED LIQUORS AND FERMENTED LIQUORS PURSUANT TO BP BLG. 82
WHEREAS,
under BP Blg. 82 as amended by Executive Order No. 674-A the final 25%
increase in specific tax rates on alcohol products is scheduled to take
effect last April 1, 1982;
WHEREAS, petitioners were filed by the affected industry to defer
indefinitely the full implementation of said BP Blg. 82 as amended by
Executive Order No. 674-A;
WHEREAS, an in-depth study was conducted to determine the merits of the
petition as well as the adverse effect of any further deferment;
WHEREAS, it was ascertained that a further postponement of the final
increase in specific tax rates which was previously deferred for
several times is not only against sound policy but would also result in
a substantial loss of revenue.
NOW, THEREFORE, I FERDINAND E. MARCOS, President of the Philippines, by
virtue of the powers vested in me by the Constitution and by Sec. 290-B of the National Internal Revenue Code of 1977, as amended by
President Decree No. 1773, do hereby order as follows:
Section 1.
Done in the City of Manila,
this 11th day of April, in the year of Our Lord, nineteen hundred and
eighty-two.
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