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Shell Phil. Inc. vs Central Bank of the Phil.

SHELL PHILIPPINES, INC., plaintiff-appellee, vs. CENTRAL BANK OF THE PHILIPPINES, defendant-appellant.

G.R. No. L-51353 | 1988-06-27

D E C I S I O N


GUTIERREZ, JR., J.:

This case comes to us on a Court of Appeals resolution certifying the controversy as one which involves a pure question of law. The resolution states the factual background of the case.

"On May 1, 1970, Congress approved the Act imposing a stabilization tax on consignments abroad (RA 6125). Section 1 of the statute, in part, provided as follows:

"'Section 1. There shall be imposed, assessed and collected a stabilization tax on the gross F.O.B. peso proceeds, based on the rate of exchange prevailing at the time of receipt of such proceeds, whether partial or total, of any exportation of the following...