EXECUTIVE ORDER NO. 958

: The main purpose of Executive Order No. 958 is to revise the maximum retail prices of cigarettes to provide sufficient leeway for price adjustments in order to meet present levels of production costs.
: Section 1 amends Section 149(b) of the National Internal Revenue Code, specifically the specific tax rates on cigars and cigarettes based on retail price brackets.
: Taxes are structured by the packaging size (thirties or twenties) and retail price brackets per pack, with corresponding specific tax rates per thousand cigarettes.
: One hundred twenty-one pesos for each thousand cigarettes.
: Manufacturers are allowed a period of one hundred twenty (120) days from the effectivity of the Order to use old labels.
: Manufacturers must comply with the printing requirements of the amended Section 149(b) regarding the new maximum retail prices on each pack of cigarettes.
: The Order takes effect on June 7, 1984.
: They are repealed, amended, or modified accordingly.
: Because the allowed margins for price adjustment under the previous order had become inadequate to meet current production costs, risking production cuts, job dislocations, and revenue loss.