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PRESIDENTIAL DECREE NO. 1359
PRESIDENTIAL DECREE NO. 1359 -
AMENDING Section 134 OF THE NATIONAL INTERNAL REVENUE CODE OF 1977
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WHEREAS,
under the present law oil products sold to international carriers are
subject to the specific tax; chanroblesvirtualawlibrary
WHEREAS, some countries allow the sale of petroleum products to
Philippine Carriers without payment of taxes thereon;chanroblesvirtualawlibrary
WHEREAS, to foster goodwill and better relationship with foreign
countries, there is a need to grant similar tax exemption in favor of
foreign international carriers;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and decree the following:cralaw:red
Section 1. Section 134 of the National Internal
Revenue Code of 1977 is hereby amended to read as follows: chanroblesvirtualawlibrary
"Sec. 134. Articles subject to specific tax. —
Specific internal revenue taxes apply to things manufactured or
produced in the Philippines for domestic sale or consumption and to
things imported, but not to anything produced or manufactured here
which shall be removed for exportation and is actually exported without
returning to the Philippines, whether so exported in its original state
or as an ingredient or part of any manufactured article or product.
"HOWEVER, PETROLEUM PRODUCTS SOLD TO AN INTERNATIONAL CARRIER FOR ITS
USE OR CONSUMPTION OUTSIDE OF THE PHILIPPINES SHALL NOT BE SUBJECT TO
SPECIFIC TAX, PROVIDED, THAT THE COUNTRY OF SAID CARRIER EXEMPTS FROM
TAX PETROLEUM PRODUCTS SOLD TO PHILIPPINE CARRIERS.
"In case of importations the internal revenue tax shall be in addition
to the customs duties, if any."
Section 2. This Decree shall take effect
immediately. chanroblesvirtualawlibrary
DONE in the City of Manila,
this 21st day of April, in the year of Our Lord, nineteen hundred and
seventy-eight.
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