Revising the Rates of Specific Tax on Certain Petroleum Products
Download as PDF
Download as Word
My Notes
Highlights
New
Collections
Create a New Collection
Overview
Full Text
Details
Case
Agency Issuance Number
Published Date
Revising the Rates of Specific Tax on Certain Petroleum Products
Executive Order No. 900
July 1, 1983
Case Overview and Summary
Summary of Executive Order No. 900Revision of Specific Tax Rates on Certain Petroleum Products
- Sec. 1: Revised rates for the following petroleum products under Section 153 of the National Internal Revenue Code:
• Kerosene: 4.5 centavos per liter of volume capacity (Sec. 153(a))
• Lubricating oils: 80 centavos per liter of volume capacity (Sec. 153(b))
• Gasoline and similar distillation products: 1.34 pesos per liter of volume capacity; premium gasoline: 1.38 pesos per liter; aviation gasoline: 1 peso per liter (Sec. 153(c))
• Denatured alcohol for motive power: 1 centavo per liter; if mixed with gasoline, only the alcohol content is taxed (Sec. 153(d))
• Processed gas: 3 centavos per liter of volume capacity (Sec. 153(e))
• Thinners and solvents: 61 centavos per liter of volume capacity (Sec. 153(f))
• Liquefied petroleum gas: 21 centavos per kilogram; if used for motive power, taxed at the same rate as diesel fuel oil (Sec. 153(g))
• Asphalts: 12 centavos per kilogram (Sec. 153(h))
• Greases, waxes, and petrolatum: 50 centavos per kilogram (Sec. 153(i))
• Aviation turbo-jet fuel: 64 centavos per liter of volume capacity (Sec. 153(j))
- Sec. 2: Revised rate for diesel fuel oil under Section 156 of the National Internal Revenue Code: 12.75 centavos per liter of volume capacity (Sec. 156)
- Sec. 3: Immediate effectivity of the Executive Order
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
petroleum products
specific tax
rates
kerosene
lubricating oils
gasoline
denatured alcohol
processed gas
thinners
solvents
liquefied petroleum gas
asphalts
greases
waxes
petrolatum
aviation turbo-jet fuel
diesel fuel oil
Law
Revising the Rates of Specific Tax on Certain Petroleum Products
Executive Order No. 900
•July 1, 1983
EXECUTIVE ORDER NO. 900 July 1, 1983
REVISING THE RATES OF SPECIFIC TAX ON CERTAIN PETROLEUM PRODUCTS
WHEREAS, the change in the international pricing system for petroleum and the consequent dismantling of the Consumer Price Equalization Fund make imperative adjustments in the prices of petroleum products to more realistic levels;
WHEREAS, in the restructuring of prices of petroleum products, it is likewise necessary to adjust for certain such products the specific tax component thereof in order to impose a ceiling on the profit which a company will realize therefrom; and
WHEREAS, the adjustments in the rates of specific taxes are necessary to attain an equal level with increases in prices of petroleum products without in any manner increasing the tax burden of the consuming public;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers in me vested by the Constitution and by Section 290-B of the National Internal Revenue Code of 1977, as amended by Presidential Decree No. 1773, do hereby order:
Sec. 1. The rates...
Login to see full content
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
petroleum products
specific tax
rates
kerosene
lubricating oils
gasoline
denatured alcohol
processed gas
thinners
solvents
liquefied petroleum gas
asphalts
greases
waxes
petrolatum
aviation turbo-jet fuel
diesel fuel oil
EXECUTIVE ORDER NO. 900 July 1, 1983
REVISING THE RATES OF SPECIFIC TAX ON CERTAIN PETROLEUM PRODUCTS
WHEREAS, the change in the international pricing system for petroleum and the consequent dismantling of the Consumer Price Equalization Fund make imperative adjustments in the prices of petroleum products to more realistic levels;
WHEREAS, in the restructuring of prices of petroleum products, it is likewise necessary to adjust for certain such products the specific tax component thereof in order to impose a ceiling on the profit which a company will realize therefrom; and
WHEREAS, the adjustments in the rates of specific taxes are necessary to attain an equal level with increases in prices of petroleum products without in any manner increasing the tax burden of the consuming public;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the powers in me vested by the Constitution and by Section 290-B of the National Internal Revenue Code of 1977, as amended by Presidential Decree No. 1773, do hereby order:
Sec. 1. The rates...
Login to see full content