Increasing The Specific Tax On Kerosene, Lubricating Oil, Gasoline, Bunker Oil And Diesel Fuel Oil And Imposing Specific Tax On Other Refined And Manufactured Mineral Oils By Amending Secti

MALACAÑANG
M a n i l a

PRESIDENTIAL DECREE No. 392 February 18, 1974

INCREASING THE SPECIFIC TAX ON KEROSENE, LUBRICATING OIL, GASOLINE, BUNKER OIL AND DIESEL FUEL OIL AND IMPOSING SPECIFIC TAX ON OTHER REFINED AND MANUFACTURED MINERAL OILS BY AMENDING SECTIONS 142, 144 AND 145 OF THE NATIONAL INTERNAL REVENUE CODE AS AMENDED

WHEREAS, in order to accelerate the economic and social development of the country, the government must provide the construction and improvement of highways, roads, bridges and other infrastructures;

WHEREAS, the expected tax revenues based on the present rates of specific taxes are still inadequate to carry on the present program of highway improvement and development;

WHEREAS, notwithstanding the last increase in the rate of specific tax on gasoline, the tax on gasoline in the Philippines is still one of the lowest in the world as revealed in a comparative study of the gasoline taxes in several countries/cities;

WHEREAS, in order to improve and simplify tax administration, it is desirable to adopt a uniform tax treatment for all refined and...

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Presidential Decree No. 392

Increasing Specific Tax on Petroleum Products
- Amends Sections 142, 144 and 145 of the National Internal Revenue Code

Section 142: Specific Tax on Manufactured Oils and Other Fuels
- Kerosene and aviation turbo jet fuel: 5 centavos per liter
- Lubricating oils: 30 centavos per liter
- Naptha, gasoline and similar distillation products: 25 centavos per liter
- Process gas: 2 centavos per liter
- Thinners and solvents: 15 centavos per liter
- Liquefied petroleum gas: 9 centavos per kilogram
- Asphalts: 5 centavos per kilogram
- Greases, waxes and petrolatum: 35 centavos per kilogram

Section 144: Specific Tax on Bunker Fuel Oil
- Bunker fuel oil and similar fuel oils: 1 centavo per liter

Section 145: Specific Tax on Diesel Fuel Oil
- Diesel fuel oil and similar fuel oils: 10 centavos per liter