That notwithstanding the provisions of Section 24 of Article 3, Chapter II of the Local Tax Code, the cities shall not increase the rate of taxes imposed by them on petroleum products and prevailing at the time of the promulgation of the order of the Oil Industry Commission, dated October 20, 1973, increasing the price of petroleum products which is likewise the date of effectivity of Presidential Decree No. 314, increasing the specific tax on petroleum products.
Done in the City of Manila, this 22nd day of October, in the year of Our Lord, nineteen hundred and seventy-three.
(Sgd.) FERDINAND E. MARCOS |
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President |
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Republic of the Philippines |
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By the President: | ||
(Sgd.) ROBERTO V. REYES | ||
Assistant Executive Secretary |