Section 3October 10, 1991, Sec./Art. 3

Section 70 of Presidential Decree No. 705, as amended, (formerly Section 232 of the National Revenue Code) is hereby amended to read as follows:

"Section 70. Charges on Timber Cut in Forestland- There shall be collected charges on each cubic cubic meter of timber cut in forestland, whether belonging to the first, second, third or fourth group, twenty-five percent (25%) of the actual FOB market price based on species and grading: Provided, however, That, in the case of pulpwood and matchwood cut in forestland, forest charges on each cubic meter shall be ten percent (10%) of the actual FOB market price."