A
collection of Philippine laws, statutes and codes
not
included or cited in the main
indices
of
the
Chan Robles Virtual Law Library
PRESIDENTIAL DECREE NO. 392
PRESIDENTIAL DECREE NO. 392 -
INCREASING THE SPECIFIC TAX ON KEROSENE, LUBRICATING OIL, GASOLINE,
BUNKER OIL AND DIESEL FUEL OIL AND IMPOSING SPECIFIC TAX ON OTHER
REFINED AND MANUFACTURED MINERAL OILS BY AMENDING SectionS 142, 144 AND
145 OF THE NATIONAL INTERNAL REVENUE CODE AS AMENDED
|
chanroblesvirtualawlibrary
WHEREAS, in
order to accelerate the economic and social development of the country,
the government must provide the construction and improvement of
highways, roads, bridges and other infrastructures;chanroblesvirtualawlibrary
WHEREAS, the expected tax revenues based on the present rates of
specific taxes are still inadequate to carry on the present program of
highway improvement and development;chanroblesvirtualawlibrary
WHEREAS, notwithstanding the last increase in the rate of specific tax
on gasoline, the tax on gasoline in the Philippines is still one of the
lowest in the world as revealed in a comparative study of the gasoline
taxes in several countries/cities;chanroblesvirtualawlibrary
WHEREAS, in order to improve and simplify tax administration, it is
desirable to adopt a uniform tax treatment for all refined and
manufactured petroleum products;chanroblesvirtualawlibrary
WHEREAS, the increase in tax on motor fuels and oil is consistent with
present policy to conserve fuel.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution as
Commander-in-Chief of the Armed Forces of the Philippines, and pursuant
to Proclamation No. 1081, dated September 21, 1972, and General Order
No. 1, dated September 22, 1972, do hereby order and decree the
following: chanroblesvirtualawlibrary
Section 1. Sections 142, 144 and 145 of the National
Internal Revenue Code as amended are hereby further amended to read as
follows:cralaw:red
"Sec. 142. Specific tax on manufactured oils and
other fuels. — On refined and manufactured mineral oils and motor
fuels, there shall be collected the following taxes:cralaw:red
(a) Kerosene and aviation turbo jet fuel, per liter
of volume capacity, five centavos;chanroblesvirtualawlibrary
(b) Lubricating oils, per liter of volume capacity,
thirty centavos;chanroblesvirtualawlibrary
(c) Naptha, gasoline and all other similar products
of distillation, per liter of volume capacity, twenty-five
centavos; chanroblesvirtualawlibrary
xxx
xxx
xxx
(e) Process gas, per liter of volume capacity, two
centavos;chanroblesvirtualawlibrary
(f) Thinners and solvents, per liter of volume
capacity, fifteen centavos;chanroblesvirtualawlibrary
(g) Liquefied petroleum gas, per kilogram, nine
centavos;chanroblesvirtualawlibrary
(h) Asphalts, per kilogram, five centavos;chanroblesvirtualawlibrary
(i) Greases, waxes and petrolatum, per kilogram,
thirty-five centavos."
"Sec. 144. Specific tax on bunker fuel oil. — On fuel
oil, commercially known as bunker oil, and on all similar fuel oils,
having more or less than same generating power, there shall be
collected, per liter, one centavo."
"Sec. 145. Specific tax on diesel fuel oil. — On fuel
oil, commercially known as diesel fuel oil, and on all similar fuel
oils, having more or less the same generating power, there shall be
collected, per liter, ten centavos."
Section 2. This Decree shall take effect at 12:01
a.m., February 18, 1974.
Done in the City of Manila,
this 17th day of February, in the year of Our Lord, nineteen hundred
and seventy-four.
|
Back
to Home
- Back
to Main
chanroblesvirtuallawlibrary
Since 19.07.98
|