Bill Type
Congress Name
Long Title
AN ACT CLASSIFYING TRANSACTIONS INVOLVING PETROLEUM PRODUCTS AS ZERO-PERCENT (0%) VALUE-ADDED TAX (VAT) TRANSACTIONS, AMENDING FOR THE PURPOSE SECTION 108 (B) OF REPUBLIC ACT NO. 8424, AS AMENDED BY REPUBLIC ACT NO. 9337, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997, AND FOR OTHER PURPOSES
Date filed
January 9, 2008
Scope
Legislative History
| House Bill/Resolution NO. HB03390 | |
| FULL TITLE : AN ACT CLASSIFYING TRANSACTIONS INVOLVING PETROLEUM PRODUCTS AS ZERO-PERCENT (0%) VALUE-ADDED TAX (VAT) TRANSACTIONS, AMENDING FOR THE PURPOSE SECTION 108 (B) OF REPUBLIC ACT NO. 8424, AS AMENDED BY REPUBLIC ACT NO. 9337, OTHERWISE KNOWN AS THE TAX REFORM ACT OF 1997, AND FOR OTHER PURPOSES | |
| ABSTRACT : The measure proposes to suspend the imposition of the 12% value added tax on crude oil and finished fuel products for a period of six months by classifying the same as zero-rated goods. | |
| PRINCIPAL AUTHOR/S : ABAYA, JOSEPH EMILIO A. | |
| DATE FILED : 2008-01-09 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Mamba (056 ) | 2. Del Rosario (056 ) |
| 3. Tañada (056 ) | 4. Tupas (056 ) |
| 5. Umali (A.) (056 ) | 6. Alcala (063 ) |
| 7. Arago (063 ) | 8. Biazon (063 ) |
| 9. Chong (063 ) | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITEE HEARINGS/ACTIONS: | |
| 1. Scheduled for first meeting/hearing on 2008-06-10 | |
| 2. Under deliberation by the Mother Committee on 2008-07-29 | |
| 3. Under deliberation by the Mother Committee on 2008-08-05 | |
| 4. Under deliberation by the Mother Committee on 2008-08-12 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2008-01-29 |
Abstract
The measure proposes to suspend the imposition of the 12% value added tax on crude oil and finished fuel products for a period of six months by classifying the same as zero-rated goods.
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.