Revision of Gasoline Tax Rates

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EXECUTIVE ORDER NO. 550: Revision of Gasoline Tax Rates

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Title Supreme Court: Revision of Gasoline Tax Rates

Law: Executive Order No. 550

Decision Date: Aug 1, 1979

President Ferdinand E. Marcos issues Executive Order No. 550 to revise the tax rates on gasoline in response to rising crude oil prices, aiming to mitigate negative effects on infrastructure projects and the cost of essential materials and equipment.

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Legal Authority for the Revision

Issued by the President of the Philippines under constitutional powers.
Utilizes authority granted by Section 158-A of the National Internal Revenue Code (NIRC), as amended by Presidential Decree No. 1393.

Revised Specific Tax Rates on Gasoline

Regular gasoline is subject to a specific tax rate of P0.62 per liter.
Premium gasoline is subject to a specific tax rate of P0.67 per liter.
These rates modify the previous tax structure outlined under Section 153(c) of the NIRC of 1977, as amended.

Effective Date of Implementation

The revised tax rates became effective on August 1, 1979.

Signatories and Authenticity

Signed by President Ferdinand E. Marcos.
Certified and countersigned by Juan C. Tuvera, Presidential Assistant.

Key Legal Concepts

Specific tax: a fixed amount of tax imposed per unit volume of gasoline, irrespective of price.
Tax revision response to external economic factors such as crude oil price fluctuations.
Executive Order as an instrument for tax policy adjustment within statutory frameworks.

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