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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 900 - REVISING
THE RATES OF SPECIFIC TAX ON CERTAIN PETROLEUM PRODUCTS
WHEREAS, the change in the international
pricing system for petroleum and the consequent dismantling of the
Consumer Price Equalization Fund make imperative adjustments in the
prices of petroleum products to more realistic levels;
WHEREAS, in the restructuring of prices of petroleum products, it is
likewise necessary to adjust for certain such products the specific tax
component thereof in order to impose a ceiling on the profit which a
company will realize therefrom; and
WHEREAS, the adjustments in the rates of specific taxes are necessary
to attain an equal level with increases in prices of petroleum products
without in any manner increasing the tax burden of the consuming public;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of
the Philippines, by virtue of the powers in me vested by the
Constitution and by Sec. 290-B of the National Internal Revenue Code
of 1977, as amended by Presidential Decree No. 1773, do hereby
order:
Section 1.
“SEC.
153.
“(a)
“(b)
“(c)
“(d)
“(e)
“(f)
“(g)
“(h)
“(i)
“(j)
Sec. 2.
“SEC.
156.
Sec. 3.
Done in the City of Manila,
this 1st day of July, in the year of Our Lord, Nineteen Hundred and
Eighty-Three.
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