AN ACT REVISING THE FORM OF TAXATION ON PETROLEUM PRODUCTS FROM AD VALOREM TO SPECIFIC, AMENDING FOR THE PURPOSE SECTION 145 OF THE NATIONAL INTERNAL REVENUE CODE AS AMENDED BY REPUBLIC ACT NUMBERED SIXTY-SEVEN HUNDRED SIXTY-SEVEN
Year:
1990
Category:
Other
Date Approved:
September 19, 1990
Summary
Plain-language AI-assisted summary — not the official text. As of July 2, 2026. Read the full text below or on the official source.
This act revises the taxation system on petroleum products, changing it from an ad valorem system to a specific tax system. It amends Section 145 of the National Internal Revenue Code to establish specific tax rates for various petroleum products.Full Text
Eighth Congress
REPUBLIC ACT No. 6965 September 19, 1990
AN ACT REVISING THE FORM OF TAXATION ON PETROLEUM PRODUCTS FROM AD VALOREM TO SPECIFIC, AMENDING FOR THE PURPOSE SECTION 145 OF THE NATIONAL INTERNAL REVENUE CODE AS AMENDED BY REPUBLIC ACT NUMBERED SIXTY-SEVEN HUNDRED SIXTY-SEVEN
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
Section 1. Section 145 of the National Internal Revenue Code as amended by Republic Act Numbered Sixty-seven hundred sixty-seven, is hereby further amended to read as follows:
Section 2. All laws, decrees, executive orders, issuances, rules and regulations, or any part thereof, which are inconsistent with the provisions of this Act are hereby repealed or modified accordingly.
Section 3. This Act shall take effect upon its approval.
Approved: September 19, 1990
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