Reduction of Special Duties on Crude Oil and Products

Reduction of Special Duties on Crude Oil and Products

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Title Supreme Court: Reduction of Special Duties on Crude Oil and Products

Law: Executive Order No. 160

Decision Date: Feb 23, 1994

President Fidel V. Ramos of the Republic of the Philippines issued Executive Order No. 160 to reduce special duties on imported crude oil and oil products, replacing the oil levy imposed by Executive Order No. 115 to generate revenue for government projects and social services programs.

reducing duties

Legal basis: prior oil levy framework

Executive Order No. 115 (Series of 1993) was issued on July 24, 1993 to raise revenues for government infrastructure projects and social services programs.
Section 401 of Presidential Decree No. 1464, as amended, authorizes the President to issue Executive Order No. 160.

Policy statements and purpose

Executive Order No. 160 addresses the need to replace the oil levy mechanism established under Executive Order No. 115 (Series of 1993).
Legislative and executive measures are identified to replace the oil levy under Executive Order No. 115.

Reduced special duties: crude oil

Executive Order No. 160 reduces the P1.90 special duty on imported crude oil falling under HS Hdg. No. 27.09.
The reduction is P0.95 per liter.
The reduced duty becomes effective January 1, 1994.

Reduced special duties: oil products

Executive Order No. 160 reduces the P2.00 special duty on imported oil products falling under HS Hdg. Nos. 27.10 and 27.11.
The reduction is P1.00 per liter.
The reduced duty becomes effective January 1, 1994.
The covered products correspond to the items listed in Annex A of Executive Order No. 115 (Series of 1993).

Modifications and repealing rule

Executive Order No. 160 provides that all executive orders, rules, and regulations inconsistent with it are modified, amended, or repealed accordingly.

END