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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1361 |
Company; The Chairman, Philippine Coconut Authority; The President, United Coconut Oil
Mills
To ensure the success of the coco-diesel program of the Government and in fairness to the firms/entities participating therein in line with the rationalization of the coconut oil milling industry, you are hereby directed as follows:
1.
All sales of coconut oil to the Philippine National Oil Company
intended for diesel fuel usage and/or the corporation authorized to be
organized under LOI 926 by coconut oil mills/millers/desiccators,
besides being considered and recognized as export sales pursuant to LOI
1332, shall, in addition to the exemptions provided in Executive Order
827, be exempted likewise from the millers' tax.
2. The Bureau
of Internal Revenue shall, in consultation with the Philippine National
Oil Company, the Philippine Coconut Authority and the corporation
authorized to be organized under LOI 926 and other agencies concerned,
promulgate the necessary rules, regulations and orders to implement
this instruction.
3. This
instruction shall take effect retroactive to 1 September 1982 regarding
sales to the Philippine National Oil Company, and to 16 June 1993
regarding sales to the corporation authorized to be organized under LOI
926.
Issued this 2nd day of November in the year of Our Lord nineteen hundred eighty-three.
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