Preamble
WHEREAS, the need for additional revenues for accelerated national development has rendered it imperative for the government to tap source from which the needed funds might be equitably derived; WHEREAS, an increase in the tax rates on cigarettes packed in twenties is a good source of additional revenue; and WHEREAS, in line with the goals of the New Society, the time has come to promote our own local brands of cigarettes as a means of attaining a real national identity for our own products and at the same time, conserve our dollar resources by reducing to a minimum foreign exchange remittances in the form of royalty payments to foreign brand owners having licensing agreements with the local cigarette manufacturers; NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers in me vested by the Constitution, do hereby decree and order the following: