ChanRobles Virtual law Library
PHILIPPINE LAWS, STATUTES & CODES
A collection of Philippine laws, statutes and codes not included or cited in the main indices of the Chan Robles Virtual Law Library.
Home > Chan Robles Virtual Law Library > Philippine Laws, Statutes & Codes > :
Search for
www.chanrobles.com
:
EXECUTIVE ORDERS
PLEASE CLICK HERE FOR THE LATEST ➔ PHILIPPINE LAWS, STATUTES & CODES
EXECUTIVE ORDER NO. 838 - REVISING
THE PERCENTAGE TAX ON SALES OF AUTOMOBILES UNDER SECTION 195(A) OF THE
NATIONAL INTERNAL REVENUE CODE OF 1977, AS AMENDED
WHEREAS,
the present rate structure of sales tax on automobiles is graduated and
based on gross selling price;
WHEREAS, inflation has pushed up the prices of cars and for this reason
economy cars are now consequently taxed at higher rates;
WHEREAS, car manufacturers claimed that this has caused a decline in
their sales volume which, in effect, is one of the reasons for the
present distressed condition of the automotive industry;
and
WHEREAS, restructuring of the tax base and tax rates of the sales tax
on automobiles will provide relief to both the prospective car buyers
and the automotive industry.
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, do
hereby order as follows:
Section 1.
(a)
Not
over P65,000
Over P65,000 but not over
P85,000
Over P85,000 but not over
P120,000
Over P120,000
Sec. 2.
Sec. 3.
Done in the City of Manila,
this 20th day of October, in the year of Our Lord, nineteen hundred and
eighty-two.
Back to Main
chan robles virtual law library
Since 19.07.98.