Scope and Commodities Covered
- The Executive Order specifically applies to essential commodities, with a focus on pneumatic tires.
- Includes various types and sizes of tires such as conventional passenger car tires and premium grade tires.
- Prices are fixed for both wholesalers and retailers.
Ceiling Prices and Specific Limits
- Detailed maximum selling prices are set for different types and sizes of pneumatic tires.
- Prices are denominated per unit and vary depending on tire specifications (e.g., ply rating, size).
- Both wholesaler and retailer prices are explicitly stated.
Tax Inclusions in Ceiling Prices
- The ceiling prices include a 17% Special Excise Tax on Foreign Exchange.
- Additionally, they cover a 7% Sales Tax and a 1% Municipal Tax.
- These tax inclusions indicate no additional tax burden beyond the fixed ceiling price.
Effectivity and Implementation
- The Order takes effect immediately upon issuance.
- It is an official directive signed by the President and the Acting Executive Secretary.
- The setting of prices aims to control inflation and protect consumers and the economy from price gouging during the given period.
Important Legal Concepts
- Utilization of executive authority for economic regulation under a specific legislative grant.
- Price ceiling as a mechanism to stabilize the market and prevent excessive pricing.
- Inclusion of specific taxes within the price ceiling to ensure transparency and prevent price manipulation.
- The regulatory framework mandates compliance by wholesalers and retailers within the stipulated price limits.