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;
WHEREAS, the increase in taxes on certain petroleum products
is a good source of revenue for the government;
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;
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:
SECTION 1. Sections 142, 144 and 145 of the National
Internal Revenue Code, as amended, are hereby further amended to read as
follows:
"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:
a. Kerosene, per liter of volume capacity, seven centavos;
b. Lubricating oils, per liter of volume capacity, sixty-five
centavos;
c. Naphtha, gasoline, and all other similar products of
distillation, per liter of volume capacity, thirty-three centavos;
f. Thinners and solvents, per liter of volume capacity, nineteen
centavos;
g. Liquefied petroleum gas, per kilogram, twelve centavos;
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.”
SEC. 2. This Decree shall take effect immediately.
Done in the City of Manila, this 15th day of January, in the
year of Our Lord, nineteen hundred and seventy-six.
(Sgd.)
FERDINAND E. MARCOS
President
Republic of the Philippines
By the President:
(Sgd.)
JUAN C. TUVERA
Presidential Assistant
