Law Summary
Coverage of Commodities with Specified Price Ceilings
- The law specifically lists essential imported commodities subject to price ceilings.
- Commodities include various grades and types of shoe materials and poultry feeds.
- Prices are fixed separately for importers, wholesalers, and retailers.
- Detailed pricing includes units, types, and grades, for example, finished upper leather and various poultry feeds.
Application of Price Ceilings to Similar Commodities
- Commodities not listed but having the same size and specifications as those enumerated are also subject to the same ceiling prices.
- This prevents circumvention by selling similar products at higher prices.
Inclusion of Taxes in Ceiling Prices
- The fixed ceiling prices encompass applicable taxes.
- Specifically, a 7% sales tax and a 1% municipal tax are included within the ceiling figures.
Effective Date of the Order
- The order takes effect five days after its publication or promulgation.
- This allows for dissemination and compliance by relevant business sectors.
Enforcement and General Provisions
- The law does not explicitly detail enforcement mechanisms within this excerpt but implies compliance through executive order.
- The law reflects government intervention in the market to stabilize prices of essential imported commodities during the stated period.
Signatories and Formalization
- The order is signed by the President of the Philippines, Elpidio Quirino.
- The Executive Secretary, Teodoro Evangelista, also signs to authenticate the order.
- The date of effectivity and formal adoption is recorded as February 3, 1951, in Manila.