Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per BOE Order dated May 11, 1985 Reducing the Oil Company Take

May 17, 1985 REVENUE MEMORANDUM CIRCULAR NO. 17-85 SUBJECT : Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per BOE Order dated May 11, 1985 Reducing the Oil Company Take 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 May 11, 1985: Previous Present Ad Previous tax Present Tax PRODUCTS OCT Less OCT Valorem Specific Ad Total Specific Ad Total Diffe- Rate Tax Valorem Tax Tax Valorem Tax rence Tax Tax PREMIUM P5.553 0.038 5.515 25% 1.185 1.388 P2.573 1.185 1.378 P2.563 (.010) REGULAR 5.181 0.038 5.143 25% 1.29 1.295 2.585 1.29 1.285 2.575 (.010) AVTURBO 5.611 0.038 5.573 25% 1.20 1.403 2.603 1.2 1.393 2.593 (.010) KEROSENE 5.344 0.038 5.306 14% 0.748 0.748 0.742 0.742 (.006) DIESEL 5.045 0.038 5.007 22% 1.110 1.110 1.101 1.101 (.009) FUEL OIL 4.128 0.038 4.090 7% 0.25 0.289 0.539 0.25 0.286 0.536 (.003) L P G 4.458 0.038 4.420 14% 0.625* 1.124* 1.749* 0.625* 1.112* 1.737* (.012) ASPHALTS 0.533 0.038 4.495 14% 0.635 0.635 0.629 0.629 (.006) SOLVENTS 5.304 0.038 5.266 25% 1.20 1.326 2.526 1.20 1.316 2.516 (.010) * 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. cd (SGD.) RUBEN B. ANCHETA Acting Commissioner