Law Summary

Introduction

This Executive Order, issued by President Elpidio Quirino on July 1, 1952, establishes maximum selling prices for essential commodities, specifically pneumatic tires, in accordance with the authority granted by Republic Act No. 509.

Authority to Fix Ceiling Prices

• Legal Basis: The Order is issued under Section 3 of Republic Act No. 509, which allows the President of the Philippines to fix ceiling prices of commodities for a limited period.
• Recommendation: The Price Administration Board recommended the prices set forth in this Order.

Ceiling Prices for Pneumatic Tires

• Commodities Covered: The Order specifically addresses various types of pneumatic tires, categorized by ply and size.
• Maximum Selling Prices: The Order specifies the maximum selling prices for wholesalers and retailers, inclusive of taxes.

Pricing Details

• Conventional Passenger Car Tires

  • 4 Ply, White Sidewall (6.00 x 16 each)
    • Wholesaler Price: ₱57.90
    • Retailer Price: ₱67.71
  • Other sizes and ply options are detailed with corresponding prices.

• Premium Grade Tires

  • Various ply and size combinations are listed with their respective prices, e.g.,
    • 6 Ply, White Sidewall (6.70 x 15 each)
      • Wholesaler Price: ₱90.15
      • Retailer Price: ₱108.18

Tax Inclusion

• Comprehensive Taxation: The ceiling prices include:
  • 17% Special Excise Tax on Foreign Exchange
  • 7% Sales Tax
  • 1% Municipal Tax

Effective Date

• Immediate Effect: This Order takes effect immediately upon issuance.

Conclusion

• Execution: The Order is signed by President Elpidio Quirino and the Acting Executive Secretary, Marciano Roque, in Manila.

Key Takeaways

• The Executive Order establishes ceiling prices on essential commodities, particularly pneumatic tires, to regulate market prices.
• The prices set include various taxes and must be adhered to by wholesalers and retailers.
• The Order is effective immediately from the date of signing, July 1, 1952.