Question & AnswerQ&A (EXECUTIVE ORDER NO. 76)
Because the withdrawal of tax-free privileges of these entities aggravated the financial and economic sufferings of veterans, members of the New Armed Forces of the Philippines, the Integrated National Police, and their dependents, especially during the recent economic crisis.
It specifically amends Section 1 of Presidential Decree No. 1955 by adding the New Armed Forces of the Philippines Commissary and Exchange Service and the PC/INP Service Stores System to the list of exemptions from duty and tax withdrawal.
The Executive Order took effect immediately upon its signing on December 2, 1986.
The New Armed Forces of the Philippines Commissary and Exchange Service (NAFPCES) and the PC/INP Service Stores System (PC/INPSS) are the beneficiaries.
The recent economic crisis which caused financial dislocation among various segments of society including members of the New Armed Forces prompted the issuance of the order to alleviate their economic well-being.
Their inclusion restores the duty and tax-free privileges to these services, thereby helping improve the morale and economic status of the members of the Armed Forces, the Integrated National Police, veterans, and their dependents.
Joker P. Arroyo signed as the Acting Executive Secretary.
Executive Orders, issued by the President of the Philippines, have the authority to amend existing laws or decrees, such as Presidential Decree No. 1955 in this case.