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    Osmeña vs. Orbos G.R. No. 99886 March 31, 1993 Facts

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    baijam
    The document discusses a case regarding the Oil Price Stabilization Fund (OPSF) established by President Ferdinand Marcos. The petitioner argued the funds collected for the OPSF should be treated as a special fund limited to the purpose for which it was created. However, the court ruled that while the OPSF funds may be considered taxes, they were collected through the State's police power rather than taxation power, and were intended to minimize fluctuations in domestic oil prices resulting from international market changes.

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    Osmeña vs. Orbos G.R. No. 99886 March 31, 1993 Facts

    Uploaded by

    baijam
    27 views1 page
    The document discusses a case regarding the Oil Price Stabilization Fund (OPSF) established by President Ferdinand Marcos. The petitioner argued the funds collected for the OPSF should be treated as a special fund limited to the purpose for which it was created. However, the court ruled that while the OPSF funds may be considered taxes, they were collected through the State's police power rather than taxation power, and were intended to minimize fluctuations in domestic oil prices resulting from international market changes.

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    Osmeña vs Orbos

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    The document discusses a case regarding the Oil Price Stabilization Fund (OPSF) established by President Ferdinand Marcos. The petitioner argued the funds collected for the OPSF should be treated as a special fund limited to the purpose for which it was created. However, the court ruled that while the OPSF funds may be considered taxes, they were collected through the State's police power rather than taxation power, and were intended to minimize fluctuations in domestic oil prices resulting from international market changes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    27 views1 page

    Osmeña vs. Orbos G.R. No. 99886 March 31, 1993 Facts

    Uploaded by

    baijam
    The document discusses a case regarding the Oil Price Stabilization Fund (OPSF) established by President Ferdinand Marcos. The petitioner argued the funds collected for the OPSF should be treated as a special fund limited to the purpose for which it was created. However, the court ruled that while the OPSF funds may be considered taxes, they were collected through the State's police power rather than taxation power, and were intended to minimize fluctuations in domestic oil prices resulting from international market changes.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    OSMEA VS.

    ORBOS
    G.R. No. 99886 March 31, 1993

    FACTS:
    October 10, 1984, President Ferdinand Marcos issued P.D. 1956 creating a Special Account in
    the General Fund, designated as the Oil Price Stabilization Fund (OPSF). The OPSF was designed to
    reimburse oil companies for cost increases in crude oil and imported petroleum products resulting from
    exchange rate adjustments and from increases in the world market prices of crude oil. Subsequently, the
    OPSF was reclassified into a "trust liability account,". President Corazon C. Aquino promulgated E. O.
    137 expanding the grounds for reimbursement to oil companies for possible cost under recovery incurred
    as a result of the reduction of domestic prices of petroleum products.
    The petitioner argues inter alia that "the monies collected pursuant to . . P.D. 1956, as amended,
    must be treated as a 'SPECIAL FUND,' not as a 'trust account' or a 'trust fund,' and that "if a special tax is
    collected for a specific purpose, the revenue generated therefrom shall 'be treated as a special fund' to be
    used only for the purpose indicated, and not channeled to another government objective." Petitioner
    further points out that since "a 'special fund' consists of monies collected through the taxing power of a
    State, such amounts belong to the State, although the use thereof is limited to the special
    purpose/objective for which it was created."

    ISSUE:
    Do the powers granted to the ERB under P.D. 1956 partake of the nature of the taxation power of
    the State?

    RULING:
    NO. The OPSF was established "for the purpose of minimizing the frequent price changes
    brought about by exchange rate adjustment and/or changes in world market prices of crude oil and
    imported petroleum products. While the funds collected may be referred to as taxes, they are exacted in
    the exercise of the police power of the State

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