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Executive Order No. 838 (1982)
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and by Section 290-B of the National Internal Revenue Code of 1977, as amended, do hereby order as follows:
Sec. 1. Section 195(A) of the National Internal Revenue Code, as amended, is hereby amended whichever is higher is:
(a) For locally manufactured automobiles. If the suggested retail or list price or actual retail price whichever is higher is:
Not over P65,000
15%
Over P65,000 but not over P85,000
25%
Over P85,000 but not over P120,000
35%
Over P120,000
45%
Sec. 2. The Minister of Finance, upon recommendation of the Commissioner of Internal Revenue, shall promulgate the necessary rules and regulations for the implementation of this Executive Order.
Sec. 3. This Executive Order shall take effect immediately.
Done in the City of Manila, this 20th day of October, in the year of Our Lord, nineteen hundred and eighty-two.