EXECUTIVE ORDER NO. 365 August 28, 1996
PROVIDING FOR THE TARIFF NOMENCLATURE AND IMPLEMENTING THE RATES OF IMPORT DUTIES ON CERTAIN IMPORTED ARTICLES UNDER REPUBLIC ACT NOS. 8180 AND 8184
WHEREAS, pursuant to Republic Act No. 8180, tariff duties of three percent (3%) and seven percent (7%) shall be imposed and collected on imported crude oil and refined petroleum products, respectively, except fuel oil and LPG, the rate of which shall be the same as that for imported crude oil;
WHEREAS, it is imperative that a presidential order is issued to implement the specific objective of Republic Act No. 8180 of maintaining a four percent (4%) tariff differential between the tariff rate on crude oil and refined petroleum products as well as to effectively guide the Bureau of Customs in imposing and collecting the correct customs duties on the specific petroleum products covered by the Act;
WHEREAS, in the process of tax restructuring and the de-regulation of the oil industry the specific levy imposed on petroleum products shall be abolished and henceforth absorbed...
Details
Amends
n/a
Amended by
n/a
Executive Orders
Providing for the tariff nomenclature and implementing the rates of import duties on certain imported articles under Republic Act Nos. 8180 and 8184
Executive Order No. 365
Summary of Executive Order No. 365
Import Duties on Petroleum Products
- Imposes 3% import duty on crude oil and 7% on refined petroleum products, except fuel oil and LPG which have the same rate as crude oil (Section 1, Annex A)
- Specifies rates for various petroleum products under Harmonized System codes (Annex A)
- Upon effectivity of Republic Act 8184, special levies of P0.95/liter on crude oil and P1.00/liter on petroleum products shall be abolished, except for lubricating oil basestock and other solvents (Section 2)
- Revised tariff schedule under Annex B shall apply upon implementation of automatic oil pricing under RA 8184 (Section 4.2)
Effectivity
- Annex A effective from April 16, 1996 (effectivity of RA 8180) until effectivity of RA 8184 (Section 4.1)
- Annex B effective upon initial implementation of automatic oil pricing under RA 8184 (Section 4.2)
Import Duties on Petroleum Products
- Imposes 3% import duty on crude oil and 7% on refined petroleum products, except fuel oil and LPG which have the same rate as crude oil (Section 1, Annex A)
- Specifies rates for various petroleum products under Harmonized System codes (Annex A)
- Upon effectivity of Republic Act 8184, special levies of P0.95/liter on crude oil and P1.00/liter on petroleum products shall be abolished, except for lubricating oil basestock and other solvents (Section 2)
- Revised tariff schedule under Annex B shall apply upon implementation of automatic oil pricing under RA 8184 (Section 4.2)
Effectivity
- Annex A effective from April 16, 1996 (effectivity of RA 8180) until effectivity of RA 8184 (Section 4.1)
- Annex B effective upon initial implementation of automatic oil pricing under RA 8184 (Section 4.2)