Reducing the Special Duties of Crude Oil and Oil Products Prescribed in Executive Order No. 115, Series of 1993
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Reducing the Special Duties of Crude Oil and Oil Products Prescribed in Executive Order No. 115, Series of 1993
Executive Order No. 160
February 23, 1994
Case Overview and Summary
Summary of Executive Order No. 160Reduction of Special Duties on Crude Oil and Oil Products
- The special duty on imported crude oil under HS Heading No. 27.09 is reduced from P1.90 to P0.95 per liter. (Section 1)
- The special duty on imported oil products under HS Heading Nos. 27.10 and 27.11 is reduced from P2.00 to P1.00 per liter. (Section 1)
- The reduction in special duties is effective from January 1, 1994. (Section 1)
Background and Rationale
- Executive Order No. 115 (dated July 24, 1993) was issued to raise revenues for infrastructure projects and social services programs. (Whereas clause)
- The Legislative and Executive Departments have identified legislative and executive measures to replace the oil levy under Executive Order No. 115. (Whereas clause)
Repealing Clause
- All executive orders, rules and regulations inconsistent with this Executive Order are modified, amended or repealed accordingly. (Section 2)
Effectivity
- This Executive Order shall take effect thirty (30) days after its publication in two (2) national newspapers of general circulation. (Section 3)
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Reducing the Special Duties of Crude Oil and Oil Products Prescribed in Executive Order No. 115, Series of 1993
Executive Order No. 160
•February 23, 1994
EXECUTIVE ORDER NO. 160 February 23, 1994
REDUCING THE SPECIAL DUTIES OF CRUDE OIL AND OIL PRODUCTS PRESCRIBED IN EXECUTIVE ORDER NO. 115, SERIES OF 1993
WHEREAS, Executive Order No. 115 (date 24 July 1993) was issued to raise much needed revenues to finance government infrastructure projects and social services programs; and
WHEREAS, the Legislative And the Executive Departments have identified legislative and executive measures to replace the oil levy under Executive Order No. 115.
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the Philippines by virtue of the powers vested in me by the Constitution and the authority granted to me under Section 401 of Presidential Decree No. 1464; as amended, do hereby order and ordain;
Sec. 1. Reduction of the Special Duty. - The P1.90 special duty on imported crude oil falling under HS Hdg. No. 27.09 and the P2.00 special duty on imported oil products falling under HS Hdg. Nos. 27.10 and 27.11, prescribed under Executive Order No. 115, series of 1993, and listed in Annex A thereof, are...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
special duty
crude oil
oil products
import
reduction
executive order
revenue
infrastructure projects
social services programs
legislative measures
executive measures
EXECUTIVE ORDER NO. 160 February 23, 1994
REDUCING THE SPECIAL DUTIES OF CRUDE OIL AND OIL PRODUCTS PRESCRIBED IN EXECUTIVE ORDER NO. 115, SERIES OF 1993
WHEREAS, Executive Order No. 115 (date 24 July 1993) was issued to raise much needed revenues to finance government infrastructure projects and social services programs; and
WHEREAS, the Legislative And the Executive Departments have identified legislative and executive measures to replace the oil levy under Executive Order No. 115.
NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the Philippines by virtue of the powers vested in me by the Constitution and the authority granted to me under Section 401 of Presidential Decree No. 1464; as amended, do hereby order and ordain;
Sec. 1. Reduction of the Special Duty. - The P1.90 special duty on imported crude oil falling under HS Hdg. No. 27.09 and the P2.00 special duty on imported oil products falling under HS Hdg. Nos. 27.10 and 27.11, prescribed under Executive Order No. 115, series of 1993, and listed in Annex A thereof, are...
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