(NAR) VOL. 6 NO. 2 / APRIL - JUNE 1995
I
Coverage
This Memorandum Circular shall apply to all motorized speedboats, yachts, launches and other watercraft designed and/or used for pleasure and recreation whether operated for profit or not.
II
Schedule of Energy Tax
1. In case of vessel with a length of not more than five meters | --------------- | P 1,000.00 |
2. In case of a vessel with a length of more than five meters but not more than fifteen meters | --------------- | 2,500.00 |
3. In case of a vessel with a length of more than fifteen meters but not more than twenty-five meters | --------------- | 4,000.00 |
4. In case of a vessel with a length of more than twenty-five meters but not more than thirty-five meters | --------------- | 5,500.00 |
5. In case of a vessel with a length of more than thirty-five meters but not more than forty-five meters | --------------- | 7,000.00 |
6. In case of a vessel with a length of more than forty-five meters but not more than fifty-five meters | --------------- | 8,500.00 |
7. In case of a vessel with a length of more than fifty-five meters but not more than sixty-five meters | --------------- | 10,000.00 |
8. In case of a vessel with a length of more than sixty-five meters but not more than seventy-five meters | --------------- | 11,500.00 |
9. In case of a vessel with a length of more than seventy-five meters but not more than eighty-five meters | --------------- | 13,000.00 |
10. In case of a vessel with a length of more than eighty-five meters but not more than ninety-five meters | --------------- | 14,500.00 |
The foregoing tax shall be paid at the time that the fees for the annual licensing and/or inspection of said vessels are payable.
III
Penalties
Failure to pay the aforegoing energy tax shall constitute a ground for non-issuance/non-renewal/cancellation of the Pleasure Yacht License (PYL).
IV
Effectivity
This Memorandum Circular shall take effect after fifteen (15) days following its publication once in a newspaper of general circulation.
Adopted: 6 Apr. 1995
(SGD.) PACIENCIO M. BALBON, JR.
Administrator