EXECUTIVE ORDER NO. 996 November 13, 1984
Subject Matter : Revising the Percentage Tax Rate on Locally Produced Crude Oil.
Date Of Effectivity : November 13, 1984
Details
n/a
n/a
Executive Orders
Revising the Percentage Tax Rate on Locally Produced Crude Oil
Executive Order No. 996
Summary of Executive Order No. 996
Revising the Percentage Tax Rate on Locally Produced Crude Oil
- The percentage tax rate on locally produced crude oil is revised as follows:
- For the first 10,000 barrels or less per month, the tax rate is 0%.
- For the next 30,000 barrels per month, the tax rate is 10%.
- For the next 60,000 barrels per month, the tax rate is 15%.
- For the next 100,000 barrels per month, the tax rate is 20%.
- For any amount in excess of 200,000 barrels per month, the tax rate is 25%.
- The tax rates specified in this Executive Order shall apply to all locally produced crude oil, regardless of the location of production within the Philippines.
- All other laws, orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.
- This Executive Order shall take effect immediately.
Revising the Percentage Tax Rate on Locally Produced Crude Oil
- The percentage tax rate on locally produced crude oil is revised as follows:
- For the first 10,000 barrels or less per month, the tax rate is 0%.
- For the next 30,000 barrels per month, the tax rate is 10%.
- For the next 60,000 barrels per month, the tax rate is 15%.
- For the next 100,000 barrels per month, the tax rate is 20%.
- For any amount in excess of 200,000 barrels per month, the tax rate is 25%.
- The tax rates specified in this Executive Order shall apply to all locally produced crude oil, regardless of the location of production within the Philippines.
- All other laws, orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.
- This Executive Order shall take effect immediately.