Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per Board of Energy Order dated July 31, 1986

August 1, 1986 REVENUE MEMORANDUM CIRCULAR NO. 24-86 SUBJECT : Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per Board of Energy Order dated July 31, 1986 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 August 1, 1986: cdt 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 P3.148 .149 P2.999 25% P2.489 P0.787 P3.276 P2.489 P0.75 P3.239 (.037) REGULAR 2.739 .149 2.59 25% 2.604 0.684 3.288 2.604 0.648 3.252 (.036) AVTURBO 3.078 .149 2.929 25% 2.567 0.769 3.336 2.567 0.732 3.299 (.037) KEROSENE 3.028 .149 2.879 14% 0.628 0.424 1.052 0.628 0.403 1.031 (.021) DIESEL 2.719 .149 2.57 22% 0.523 0.598 1.121 0.523 0.563 1.086 (.035) FUEL OIL 1.862 1.862 7% 0.511 0.13 0.641 0.511 0.13 0.641 L P G 2.634 .149 2.485 14% 0.697 0.369 1.066 0.697 0.348 1.045 (.021) or 1.247 0.660 1.907 1.24 0.623 1.87 (.037) /kg. /kg. /kg. /kg. /kg. /kg. ASPHALTS 2.462 .149 2.313 14% 0.581 0.344 0.925 0.581 0.324 0.905 (.020) SOLVENTS 2.99 .149 2.841 25% 2.472 0.748 3.22 2.492 0.71 3.182 (.038) 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