Payment of specific tax on domestic products.
Section 135
SEC. 135. Payment of specific tax on domestic products.—Specific taxes on domestic products shall be paid by the manufacturer, producer, owner, or person having possession of the same; and, except as otherwise especially allowed, such taxes shall be paid immediately before removal from the place of production: Provided, however, That specific taxes on locally manufactured petroleum products levied under Sections 153, 155 and 156 of this Title, except lubricating oil and grease, shall be paid within fifteen (15) days from the date of removal thereof from the place of production. If the specific tax on petroleum products is not paid within the time specified above, the amount of tax shall be increased by twenty-five per centum the increment to be a part of the tax and the entire amount shall be subject to interest at the rate of fourteen per cent per annum. Locally manufactured petroleum products produced and stocked by the Philippine National Oil Company pursuant to the national policy of maintaining adequate strategic fuel reserves shall be excluded from these provisions and may continue to remain bonded.