Preamble
WHEREAS, under the present law oil products sold to international carriers are subject to the specific tax; WHEREAS, some countries allow the sale of petroleum products to Philippine Carriers without payment of taxes thereon; WHEREAS, to foster goodwill and better relationship with foreign countries, there is a need to grant similar tax exemption in favor of foreign international carriers; 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: