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. 874
|
PRESIDENTIAL DECREE NO. 874 -
INCREASING THE SPECIFIC TAX ON GASOLINE, DIESEL FUEL OIL, BUNKER FUEL
OIL AND OTHER SIMILAR PETROLEUM PRODUCTS BY FURTHER AMENDING SectionS
142, 144 AND 145 OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED
|
chanroblesvirtualawlibrary
WHEREAS,
the need for additional revenue for accelerated development has
rendered it imperative for the government to tap resources from which
this might equitably be derived; chanroblesvirtualawlibrary
WHEREAS, the increase in taxes on certain petroleum products is a good
source of revenue for the government;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 Asia as revealed in a comparative study of gasoline taxes in
several Asian countries/cities; and
WHEREAS, the increase in tax on gasoline, diesel fuel oil, bunker fuel
oil and other petroleum products is consistent with the declared policy
of the government to conserve fuel;chanroblesvirtualawlibrary
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers in me vested by the Constitution, do hereby
order and decree the following:cralaw:red
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: chanroblesvirtualawlibrary
(a) Kerosene, per liter of volume capacity, seven
centavos;chanroblesvirtualawlibrary
(b) Lubricating oils, per liter of volume capacity,
sixty-five centavos;chanroblesvirtualawlibrary
(c) Naphtha, gasoline, and all other similar products
of distillation, per liter of volume capacity thirty-three centavos;chanroblesvirtualawlibrary
xxx
xxx
xxx
(f) Thinners and solvents, per liter of volume
capacity, nineteen centavos;chanroblesvirtualawlibrary
(g) Liquefied petroleum gas, per kilogram, twelve
centavos;chanroblesvirtualawlibrary
xxx
xxx
xxx
(j) Aviation turbo jet fuel, per liter of volume
capacity, nine centavos.
"Sec. 144. Specific tax on bunker fuel oil. — On fuel
oil, commercially known as bunker fuel oil, and on all similar fuel
oils, having more or less the same generating power, there shall be
collected, per liter, four and one-half centavos."
"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, fourteen and one-half centavos."
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 5th day of January, in the year of Our Lord, nineteen hundred and
seventy-six.
|
Back
to Home
- Back
to Main
chanroblesvirtuallawlibrary
Since 19.07.98
|
