Full Title
AN ACT AMENDING SECTION 145, PARAGRAPH (B), OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED.
Congress
8th Congress of the Republic
House Bill
H. No. 21124
Legislative History
Request for e-copy
Date of Approval
October 29, 1989

Other Details

Issuance Category
Legislative Issuance
Legislative Issuance Type
Republic Act
Bill Note
House Bill Only
Subjects
NAPHTHA
Petroleum chemicals
Petrochemicals
Naphtha -- Taxation
NATIONAL INTERNAL REVENUE CODE -- AMENDMENTS AND REPEALS
POPULAR NAMES -- NATIONAL INTERNAL REVENUE CODE -- AMENDMENTS AND REPEALS
Major Topic
Energy

Official Gazette

Official Gazette Source
Official Gazette vol. 85 no. 51 page 8201 (12/18/1989)

Full Text of Issuance

H. No. 21124 / 85 OG No. 51, 8201 (Dec. 18, 1989) ; Inquirer 11/6/89 ; 1 VLD 94 2d

[ REPUBLIC ACT NO. 6767, October 30, 1989 ]

AN ACT AMENDING SECTION 145, PARAGRAPH (B), OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED

Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:SECTION 1. Section 145, paragraph (b), of the National Internal Revenue Code, as amended, is hereby further amended by adding a new item (4) to read as follows:

"Ad Valorem Tax Rate" (4) Naphtha when used as a raw material in the production of petrochemical products 0% Provided, That naphtha processed by domestic refineries, if available as determined by the Energy Regulatory Board, shall be utilized before any naphtha may be imported for this purpose: Provided, further, That the by-product including fuel oil, diesel fuel, kerosene, pyrolysis gasoline, liquefied petroleum gases and similar oils having more or less the same generating power, which are produced in the processing of naphtha into petrochemical products shall be subject to the applicable ad valorem tax specified in paragraph (b) of this section, except when such by-products are transferred to any of the local oil refineries through sale, barter, or exchange, for the purpose of further processing or blending into finished products which are subject to ad valorem tax under the said paragraph (b) of this section."

SEC. 2. The Bureau of Internal Revenue with the approval of the Department of Finance shall promulgate rules and regulations necessary for the effective implementation of this Act.SEC. 3. This Act shall take effect after 15 days following its publication either in the Official Gazette or a newspaper of general circulation in the Philippines.Approved,

(Sgd.) JOVITO R. SALONGA (Sgd.) RAMON V. MITRA
President of the Senate Speaker of the House of Representatives

This Act which originated in the House of Representatives was finally passed by the House of Representatives and the Senate on October 3, 1989 and September 19, 1989, respectively.

(Sgd.) EDWIN P. ACOBA (Sgd.) QUIRINO D. ABAD SANTOS, JR.
Secretary of the Senate Secretary of the House of Representatives

Approved: October 30, 1989(Sgd.) CORAZON C. AQUINOPresident of the Philippines

Source: Supreme Court E-Library

By Request

Scan the QR Code below or click this link to request the following: 

  • Transcript of Plenary Debates
  • Transcript of Committee Meeting/s
  • Transcript of Conference Committee Meeting/s
  • Conference Committee (Bicam) Report
  • Turned-over Documents
  • Vertical Files and Newspaper Articles
  • Others