Preamble
WHEREAS,the existing rates of specific tax on distilled spirits, wines and fermented liquors in the country are still low compared to similar taxes levied in foreign countries. WHEREAS,the rates of specific tax on distilled spirits, wines and fermented liquors offer a convinient source of additional tax revenues because these are non-essential products; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree the following: