Publishing the Specific Tax Rates on Certain Petroleum Products Pursuant to Republic Act 6965 Revising the Form of Excise Tax Therefor from Ad Valorem Tax to Specific Tax

October 5, 1990 REVENUE MEMORANDUM CIRCULAR NO. 085-90 SUBJECT : Publishing the Specific Tax Rates on Certain Petroleum Products Pursuant to Republic Act 6965 Revising the Form of Excise Tax Therefor from Ad Valorem Tax to Specific Tax TO : All Internal Revenue Officers and Others Concerned For the information and guidance of all concerned, published here are the new specific tax rates on the following petroleum products pursuant to the provisions of Republic Act 6965, effective October 5, 1990. All internal revenue officers and others concerned are enjoined to be guided accordingly and to give this circular a wide publicity as possible. cd (SGD.) JOSE U. ONG Commissioner of Internal Revenue ATTACHMENT PESO/LITER Products Previous Present Difference Ad Valorem Specific Tax Premium Gasoline P3.5964 P2.52 (P1.0764) Regular Gasoline 3.2622 2.28 (.9822) Naphtha 3.2622 2.28 (.9822) Naphtha-For production of petrochemicals 0 0 0 Aviation Turbo 3.4037 2.38 (1.0237) Diesel Fuel Oil 1.1532 0.45 (.7032) Kerosene 1.1704 0.50 (.6704) L.P.G. 1.0590/lt. 0 ( 1.0590/lt) or 1.8946/kg. 0 (1.8946/kg) Asphalt .7956/kg. 0.56 (.2356/kg) Bunker Fuel 0 0 0 Lube Oils, Greases, base stocks for lube oils & greases, aromatic extracts & other similar preparations, and additives for lube oils & greases 4.50 4.50 0 Processed Gas 0.05 0.05 0 Waxes & Petroleum 3.50 3.50 0 Denatured Alcohol- For motive power 0.05 0.05 0