Amending Section 134 Of The National Internal Revenue Code Of 1977.
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Amending Section 134 Of The National Internal Revenue Code Of 1977.
Presidential Decree No. 1359
April 21, 1978
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Summary of Presidential Decree No. 1359Amending Section 134 of the National Internal Revenue Code of 1977
- Petroleum products sold to international carriers for use or consumption outside the Philippines shall not be subject to specific tax, provided that the country of the carrier exempts from tax petroleum products sold to Philippine carriers. (Section 1)
- This exemption applies only if the country of the international carrier grants a similar tax exemption to Philippine carriers.
- For imported goods, the internal revenue tax shall be in addition to any applicable customs duties. (Section 1)
- Goods produced or manufactured in the Philippines and exported without returning shall not be subject to specific tax, whether exported in their original state or as an ingredient or part of a manufactured product. (Section 1)
- Specific internal revenue taxes apply to things manufactured or produced in the Philippines for domestic sale or consumption, and to imported goods. (Section 1)
- The decree took effect immediately upon its issuance on April 21, 1978. (Section 2)
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petroleum products
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importation
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Amending Section 134 Of The National Internal Revenue Code Of 1977.
Presidential Decree No. 1359
•April 21, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1359
AMENDING SECTION 134 OF THE NATIONAL INTERNAL REVENUE CODE OF 1977.
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:
Section 1. Section 134 of the National Internal Revenue Code of 1977 is hereby amended to read as follows:
"Sec. 134. Articles subject to specific tax. Specific internal revenue taxes apply to things manufactured or produced in the Philippines for domestic sale or consumption and to things imported, but not to anything produced or manufactured here which shall be removed for exportation and is actually exported without...
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