Revenue Memorandum Circular · RMC
RMC No. 31-2026 Digest
To circularize Executive Order No. 114, Series of 2026, titled "Temporarily Suspending the Excise Taxes on Specific Petroleum Products Pursuant to Section 148 of Republic Act No. 8424, or the National Internal Revenue Code of 1997, as Amended", and to direct internal revenue officials and employees to take cognizance of and ensure compliance with its provisions insofar as they affect the administration of excise taxes on petroleum products.
- Document type
- RMC
- Number
- 31
- Year
- 2026
- Text quality
- Not specified
Document text
Reference copy · verify against the official sourceRMC No. 31-2026 (April 17, 2026) circularizes EO No. 114, s. 2026, which suspends for three (3) months from effectivity the excise taxes on LPG (except when used as raw material for petrochemical production or for motive power) and on kerosene (except when used as aviation fuel). Excise tax rates on petroleum products automatically revert to the Section 148 NIRC rates, without need of further issuance, upon the earlier of: one (1) week after the one-month average Dubai crude price (MOPS) falls below USD 80 per barrel as certified by the DOE, or expiration of the Order's Section 2 duration. The DOE and DOF, through the BIR and BOC, must inventory existing LPG and kerosene stocks as of effectivity, and the BIR and BOC must report monthly to Congress on declared value and volume. The DOF (through BIR/BOC) and DOE may issue implementing guidelines; pending such rules, concerned offices are guided by EO 114, RA No. 12316, and existing revenue issuances on petroleum excise taxes.