Further Amending Section 4 Of Republic Act No. 4155, As Amended
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Further Amending Section 4 Of Republic Act No. 4155, As Amended
Presidential Decree No. 504
July 1, 1974
Case Overview and Summary
Summary of Presidential Decree No. 504Importation of Foreign Leaf Tobacco for Blending Purposes
- To stabilize or minimize the production cost of locally-manufactured quality cigarettes and save the consuming public from paying increased costs. (Section 4)
- The Philippine Virginia Tobacco Administration Board may authorize bona-fide cigarette manufacturers owned or controlled by Filipino citizens to import foreign leaf tobacco for blending purposes under the following conditions:
- Ratio of not more than 1 kilogram of imported foreign leaf tobacco to every 4 kilograms of local Virginia leaf tobacco purchased. (Section 4)
- Subject to limitations, requirements, rules, and regulations promulgated by the Philippine Virginia Tobacco Administration. (Section 4)
- Importation shall not exceed 6 million kilograms in any year unless the exigencies of the industry require otherwise. (Section 4)
- No other tariff or taxes shall be imposed on foreign leaf tobacco so imported except an amount equivalent to 100% of its landed cost. (Section 4)
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Further Amending Section 4 Of Republic Act No. 4155, As Amended
Presidential Decree No. 504
•July 1, 1974
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 504 July 1, 1974
FURTHER AMENDING SECTION 4 OF REPUBLIC ACT NO. 4155, AS AMENDED
WHEREAS, in an effort to arrest the steady increase in the price of foreign leaf tobacco for blending purposes, there is an urgent need to take effective measures to at least stabilize if not minimize the production cost of locally-manufactured quality cigarettes and thereby, saving the consuming public from paying for the increased cost;
WHEREAS, it has been determined that the imposition of the minimum tax of P10.00 per kilogram of imported leaf tobacco under Section 4 of Republic Act No. 4155, as amended, will further increase the present cost of locally-manufactured cigarettes constituting the main bulk of the local cigarette industry's output and being patronized by the greater mass of the country's smokers;
WHEREAS, unless a remedial measure is taken, the government stands to lose in terms of revenue collections as the increased production cost of local cigarettes will inevitably be detrimental to that segment of the cigarette industry which...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
Importation
Foreign Leaf Tobacco
Blending
Cigarette Manufacturing
Philippine Virginia Tobacco Administration
Bona-fide Manufacturers
Filipino Ownership
Ratio
Local Virginia Leaf Tobacco
Limitations
Requirements
Rules
Regulations
Importation Limit
Tariff
Taxes
Landed Cost
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 504 July 1, 1974
FURTHER AMENDING SECTION 4 OF REPUBLIC ACT NO. 4155, AS AMENDED
WHEREAS, in an effort to arrest the steady increase in the price of foreign leaf tobacco for blending purposes, there is an urgent need to take effective measures to at least stabilize if not minimize the production cost of locally-manufactured quality cigarettes and thereby, saving the consuming public from paying for the increased cost;
WHEREAS, it has been determined that the imposition of the minimum tax of P10.00 per kilogram of imported leaf tobacco under Section 4 of Republic Act No. 4155, as amended, will further increase the present cost of locally-manufactured cigarettes constituting the main bulk of the local cigarette industry's output and being patronized by the greater mass of the country's smokers;
WHEREAS, unless a remedial measure is taken, the government stands to lose in terms of revenue collections as the increased production cost of local cigarettes will inevitably be detrimental to that segment of the cigarette industry which...
Login to see full content