Amending Certain Provisions Of Presidential Decree No. 1994 And Increasing The Specific Tax On Cigarettes

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 2007

AMENDING CERTAIN PROVISIONS OF PRESIDENTIAL DECREE NO. 1994 AND INCREASING THE SPECIFIC TAX ON CIGARETTES

WHEREAS, there is an imperative need to simplify the system of taxation and make more efficient the collection of internal revenue taxes;

WHEREAS, there is an urgent need for additional tax revenue in support of our national economic recovery program;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree:

Section 1. Section 126 of the National Internal Revenue Code, as amended by Presidential Decree No. 1994, is hereby further amended to read as follows:

"Sec. 126. Cigars and cigarettes. ? There shall be collected on cigars and cigarettes, the following taxes:

"(a) Cigars. ?

"(1) When the manufacturer's or importer's wholesale price, less the amount of the tax does not exceed thirty pesos per thousand, on each thousand two pesos and thirty centavos;

"(2) When the...

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