Amending Sections 153, 155 and 156 of Title Iv (Specific Taxes) of the National Internal Revenue Code of 1977, as Amended

EXECUTIVE ORDER NO. 957 June 7, 1984

AMENDING SECTIONS 153, 155 AND 156 OF TITLE IV (SPECIFIC TAXES) OF THE NATIONAL INTERNAL REVENUE CODE OF 1977, AS AMENDED

WHEREAS, with the recent currency realignment, it is imperative that stringent measures be adopted to conserve oil and avoid wasteful consumption thereof;

WHEREAS, the restructuring of oil prices as well as the revision of the specific tax components thereof is an effective measure of conservation;

WHEREAS, a revision of specific tax rates will mean not only a reduction in oil consumption but will also mean savings in foreign exchange that could be utilized for the importation of essential commodities;

NOW, THEREFOR, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers vested in me by the Constitution and by Section 290-B of the National Internal Revenue Code of 1977, as amended, do hereby direct and order that:

"Sec. 1. Section 153, 155 and 156 of the National Internal Revenue Code as amended are hereby further amended to...

Login to see full content

Summary of Executive Order No. 957

Amending Specific Tax Rates on Oil and Fuel Products

- Aims to conserve oil and avoid wasteful consumption through restructuring of oil prices and revision of specific tax components (Preamble)
- Revises specific tax rates to reduce oil consumption and save foreign exchange for importing essential commodities (Preamble)

Specific Tax Rates (Section 1):

- Kerosene: 37.75 centavos per liter of volume capacity (Sec. 153(a))
- Lubricating oils: 1.50 pesos per liter of volume capacity (Sec. 153(b))
- Regular gasoline and similar products: 1.74.25 pesos per liter of volume capacity (Sec. 153(c))
- Premium and aviation gasoline: 1.62.25 pesos per liter of volume capacity (Sec. 153(c))
- Denatured alcohol for motive power: 1 centavo per liter of volume capacity (Sec. 153(d))
- Processed gas: 4.5 centavos per liter of volume capacity (Sec. 153(e))
- Thinners and solvents: 1.02.5 pesos per liter of volume capacity (Sec. 153(f))
- Liquefied petroleum gas: 97.5 centavos per kilogram (Sec. 153(g))
- Liquefied petroleum gas for motive power: Taxed as diesel fuel oil (Sec. 153(g))
- Asphalts: 53 centavos per kilogram (Sec. 153(h))
- Greases, waxes, and petrolatum: 80 centavos per kilogram (Sec. 153(i))
- Aviation turbo jet fuel: 1.37 pesos per liter of volume capacity (Sec. 153(j))
- Bunker fuel oil: 37.5 centavos per liter of volume capacity (Sec. 155)
- Diesel fuel oil: 65.5 centavos per liter of volume capacity (Sec. 156)

Effective Date:
- The Executive Order took effect on June 7, 1984 (Section 2)