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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 663 |
The Secretary, Department of Finance
The Director-General, National Economic &
Development Authority
In view of the representations of the gasoline dealers with respect to the new rate of privilege tax provided under Presidential Decree No. 1158-A, the following instructions are hereby issued:
1.
Out of the funds of the Department of Energy, the
affected petroleum dealers shall receive subsidy to the extent of the
additional privilege tax. The Department of Energy shall, in
consultation with the Department of Finance, formulate the rules and
regulations to implement the subsidy operations.
2. The
Director-General, National Economic and Development Authority, in
coordination with the Department of Energy and the Department of
Finance, shall submit within ninety (90) days from receipt of this
instruction recommendations with respect to the taxation of petroleum
dealers.
Done in the City of Manila, this 27th day of January, in the year of Our Lord, nineteen hundred and seventy-eight.
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Since 19.07.98.
