Lifting the Tax and Duty Exemptions Granted to Certain Imported Petroleum Products

September 23, 1980 LETTER OF INSTRUCTIONS NO. 1068 TO : The Minister of Finance The Minister of Energy Under Presidential Decrees 1609 and 1610 and Letter of Instructions 839, the importation free of customs duties and other importation taxes and charges of motor gasoline, naphtha, natural gas liquids, kerosene and certain other petroleum products by persons and entities duly authorized by the Bureau of Energy Utilization was allowed due to shortages at the time of promulgation of these decrees and letter of instructions. Since the implementation of subject decrees and letter of instructions, however, (1) the supply of crude oil to the Philippines has increased, (2) the domestic consumption of motor gasolines and kerosene have declined due in part to conservation, and (3) the inventories of motor gasolines and kerosene have increased substantially. cd In view of the fact that the conditions for the granting of exemptions on the importation of premium gasoline, regular gasoline, naphtha, natural gas liquids and kerosene free from payment of customs duties, importation taxes and charges no longer exist, such exemptions shall now be discontinued. Henceforth, importation of these petroleum products shall be subject to duties and importation taxes and charges normally applicable under the Customs Code. This Letter of Instruction is to take effect immediately. DONE in the City of Manila, this 23rd day of September, in the year of Our Lord, Nineteen Hundred and Eighty. cd