Legal basis and repealed provision
- Republic Act No. 509 authorizes the President to fix ceiling prices of commodities and issue implementing rules and regulations.
- Executive Order No. 614 expressly repeals Section 3 of Executive Order No. 448, dated June 9, 1951.
- The repeal is effected by setting up new ceiling prices for Homasote Wallboard.
Policy and purpose of the order
- Executive Order No. 614 implements national policy on commodity pricing by fixing ceiling prices for a specified construction commodity.
- The order is designed to regulate prices through ceiling limits for Homasote Wallboard.
Coverage and product scope
- The ceiling prices apply to Building board—Homasote Wallboard with the size 15/32" × 4' × 8'.
- The ceiling prices apply in the market categories of wholesaler’s price and retailer’s price.
- The ceiling prices relate to Construction Materials (Imported).
Ceiling prices and required tax inclusions
- Section 1 sets the ceiling prices for Homasote Wallboard (15/32" × 4' × 8') at:
- Wholesaler’s price: PHP 12.50 per sheet
- Retailer’s price: PHP 13.65 per sheet
- Section 1 states the applicable condition of pricing: with 17 per cent special excise tax on foreign exchange.
- Section 2 provides that the ceiling prices include:
- 17% special excise tax on foreign exchange
- 7% sales tax
- 1% municipal tax
Effect of the order and publication rule
- Section 3 establishes a clear effectivity rule: the order takes effect three days after the date of issuance (September 12, 1953).