Revision of Cigarette Maximum Retail Prices

The President acted pursuant to Section 290-B of the National Internal Revenue Code, as amended.
The order targets inadequacy of the prior price adjustment leeway under the latest revision of cigarette maximum retail prices under Executive Order No. 924.
The order authorizes revision of maximum retail prices to provide sufficient leeway to meet current production costs.
The order aims to avoid production cutbacks that could dislocate factory workers and reduce revenue collections.

Section 1 amends Section 149(b) of the National Internal Revenue Code, as amended on the specific tax on cigars and cigarettes, focusing on cigarettes.
On cigarettes packed in thirties, when the retail price per pack does not exceed one pesos and sixty centavos, the tax is on each thousand three pesos.
On cigarettes packed in thirties, when the retail price per pack does not exceed two pesos, the tax is on each thousand five pesos.
On cigarettes packed in thirties, when the retail price per pack exceeds two pesos, the tax is on each thousand eight pesos.

On cigarettes packed in twenties, when the retail price per pack does not exceed three pesos and sixty-five centavos, the tax is on each thousand, twenty pesos.
On cigarettes packed in twenties, when the retail price per pack exceeds three pesos and sixty-five centavos but does not exceed four pesos and fifty centavos, the tax is on each thousand, twenty-eight pesos.
On cigarettes packed in twenties, when the retail price per pack exceeds four pesos and thirty centavos but does not exceed five pesos and fifty centavos, the tax is on each thousand, thirty-two pesos.
On cigarettes packed in twenties, when the retail price per pack exceeds five pesos and fifty centavos but does not exceed six pesos, the tax is on each thousand, sixty-four pesos.

On cigarettes packed in twenties, when the retail price per pack exceeds six pesos but does not exceed six pesos and fifty centavos, the tax is on each thousand, sixty-four pesos.
On cigarettes packed in twenties, when the retail price per pack exceeds six pesos and fifty centavos but does not exceed seven pesos and thirty centavos, the tax is on each thousand, ninety-one pesos.
On cigarettes packed in twenties, when the retail price exceeds seven pesos and thirty centavos, the tax is on each thousand, one hundred twenty-one pesos.
If the cigarettes are of foreign manufacture, the specific tax applies regardless of the retail price or contents per pack, at on each thousand, one hundred twenty-one pesos.

Section 2 allows all cigarette manufacturers concerned to use cigarette labels imprinted with the old maximum retail price per pack.
The allowed use lasts for one hundred twenty (120) days from the date of effectivity of Executive Order No. 958.
After the 120-day period, manufacturers must comply with the pertinent requirements of Section 149(b) of the National Internal Revenue Code, as amended, on the printing of the maximum retail price on each pack of cigarettes.

Section 3 repeals, amends, or modifies accordingly all laws, decrees, executive orders, rules and regulations, and other issuances or portions that are inconsistent with Executive Order No. 958.