Republic of the Philippines DEPARTMENT OF FINANCE Manila
DEPARTMENT ORDER NO.42-90
"AMENDING/REPEALING CERTAIN SECTIONS OF DEPARTMENT OF FINANCE CIRCULAR NO. 1-87 DATED FEBRUARY 18, 1987, AND FOR OTHER PURPOSES"
Pursuant
to Section 2 of E.0 137, the following are hereby
promulgated: Section 1.
Item 1 of Paragraph 1 of Department of Finance Circular No. 1-87 dated February 18, 1987 is hereby amended to read as follows: "1. The oil companies shall-pay to the OPSF a foreign exchange premium equivalent to a flat rate of two (2) percent for a maximum period of 180 days of cover based the actual peso value of the foreign on exchange payment for the shipment."
SECTION 2.
Item 2 of Paragraph 1 of Department of Finance Circular No. 1-87 is hereby repealed.
SECTION 3.
All orders, circulars, rules and regulations or parts thereof
inconsistent with this Circular are hereby
revoked or modified accordingly.
SECTION 4.
This Circular shall take effect on September 1, 1990.
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... tax adminis- tration program, the effects and far-reaching implications of certain. provisions of the draft Local Government Code, and other equally im- portant ...
