PD 87 Section 20

Determination of gross income.

Section 20

SEC. 20. Determination of gross income. — The gross income shall consist of: In respect of crude oil exported, the gross proceeds from the sale of crude oil at the posted price; In respect of crude oil sold for consumption in the Philippines, the gross income shall consist of the gross proceeds from the sale thereof at market price per barrel; In respect of natural gas and/or casinghead petroleum exported or sold for consumption in the Philippines the gross income shall consist of the total quantity sold at the prevailing market price thereof; and Such other income which are incidental to and/or arising from any petroleum operation.

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Other provisions in PD 87

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗ · Data as of July 4, 2026

CitationPD 87 Section 20 (LawPlayer, data as of July 4, 2026)

Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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