Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per Presidential Order dated March 20, 1986 Reducing the Prices on Regulated Petroleum Products

April 4, 1986 REVENUE MEMORANDUM CIRCULAR NO. 05-86 SUBJECT : Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per Presidential Order dated March 20, 1986 Reducing the Prices on Regulated Petroleum Products TO : All Internal Revenue Officers and Others Concerned For the information and guidance of all concerned, published hereunder are the new ad valorem taxes on the following petroleum products effective March 20, 1986: cdt Previous Present Ad Previous tax Present Tax PRODUCTS OCT Less OCT Valorem Ad Total Specific Ad Total Diffe- Rate Specific Valorem Tax Tax Valorem Tax rence tax Tax Tax PREMIUM P4.509 0.20 P4.309 25% P1.49 P1.127 P2.617 P1.49 P1.077 P2.567 (.050) REGULAR 4.153 0.20 3.953 25% 1.575 1.038 2.613 1.575 0.988 2.563 (.050) AVTURBO 4.854 0.394 4.46 25% 1.509 1.214 2.723 1.509 1.115 2.624 (.099) KEROSENE 4.591 0.386 4.205 14% 0.268 0.644 0.912 0.268 0.589 0.857 (.055) DIESEL 4.25 0.377 3.873 22% 0.269 0.935 1.204 0.269 0.852 1.121 (.083) FUEL OIL 3.438 0.607 2.831 7% 0.443 0.241 0.684 0.443 0.198 0.641 (.043) L P G 3.753 0.527 3.226 14% 1.029* 0.945* 1.974* 1.029* 0.814* 1.843* (.131) ASPHALTS 3.825 0.394 3.431 14% 0.226 0.536 0.762 0.226 0.48 0.706 (.056) SOLVENTS 4.561 0.394 4.167 25% 1.491 1.14 2.631 1.491 1.042 2.533 (.098) * converted to kilogram All internal revenue officers and others concerned are enjoined to be guided accordingly and to give this circular as wide a publicity as possible. casia (SGD.) BIENVENIDO A. TAN, JR. Commissioner of Internal Revenue