Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per BOE Order dated September 9, 1985 Reducing the Oil Company Take

September 12, 1985 REVENUE MEMORANDUM CIRCULAR NO. 40-85 SUBJECT : Publishing the Revised Ad Valorem Taxes on Certain Petroleum Products per BOE Order dated September 9, 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 September 9, 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 P5.515 .105 P5.41 25% P1.185 P2.563 1.378 P1.185 P1.353 P2.538 (.025) REGULAR 5.143 .105 5.038 25% 1.285 2.575 1.29 1.29 1.26 2.55 (.025) AVTURBO 5.573 .105 5.468 25% 1.393 1.403 2.593 1.20 1.367 2.567 (.026) KEROSENE 5.306 .105 5.201 14% 0.742 0.748 0.742 0.728 0.728 (.014) DIESEL 5.007 .105 5.902 22% 1.101 1.110 1.101 1.078 1.078 (.023) FUEL OIL 4.090 .105 3.985 7% 0.286 0.289 0.536 0.25 0.279 0.529 (.007) L P G 4.420 .105 4.315 14% 1.112* 1.124* 1.737* 0.625* 1.08* 1.705* (.032) ASPHALTS 0.495 .105 4.39 14% 0.629 0.635 0.629 0.615 0.615 (.014) SOLVENTS 5.266 .105 5.161 25% 1.316 1.326 2.516 1.20 1.29 2.490 (.026) * 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. acd (SGD.) RUBEN B. ANCHETA Acting Commissioner