EXECUTIVE ORDER NO. 46

: Republic Act No. 601, as last amended by Republic Act No. 1175, initially imposed the 17% excise tax.
: Under Section 5(b) of Republic Act No. 663, the President is authorized to exempt NARIC from other taxes if it is in the public interest.
: NARIC is exempted from the payment of sales and milling taxes and can be exempted from other taxes as authorized by the President.
: President Ramon Magsaysay signed Executive Order No. 46.
: The public interest and the welfare of the people demand that NARIC be exempt from the 17% excise tax on foreign exchange for rice importation.
: No, the exemption covers the cost, transportation, and other charges incident to the importation of rice paid in foreign exchange.
: The exemption takes effect from July 10, 1954, the date of signing of the Executive Order.
: The Executive Secretary, Fred Ruiz Castro, attested and authenticated the Executive Order by signing it.
: Yes, the exemption specifically applies to foreign exchange used for the importation of rice by NARIC.