Preamble
WHEREAS, certain raw material inputs are taxable at higher rates than the finished article which may result in accumulation of excess tax credits; WHEREAS, certain articles presently classified as ordinary articles should be considered as essential articles for sales tax purposes; WHEREAS, to achieve the effect of placing the raw materials and finished products at essentially the same rate of tax on finished articles under the existing tax credit system; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution, do hereby order and decree: