MODIFYING THE RATES OF IMPORT DUTIES ON IMPORTED CRUDE OIL AND SELECTED REFINED PETROLEUM PRODUCTS UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978 (PRESIDENTIAL DECREE …

WHEREAS, Section 6 of RA 8479 otherwise known as the “Downstream Oil
Industry Deregulation Act of 1998” provides that a single and uniform
tariff duty is imposed and collected both on imported crude oil and
imported refined petroleum products at the rate of three percent (3%);

WHEREAS, Sections 104 and 401 of the Tariff and Customs Code of the
Philippines (PD No. 1464), as amended, empower the President upon the
recommendation of the National Economic and Development Authority to
increase, reduce, or remove existing protective rates of import duty, as
well as to modify the form of duty;

WHEREAS, prices of imported crude oil and imported refined petroleum
products in the international markets indicate upward trend;

WHEREAS, it is necessary to soften the impact of such increases on prices of basic commodities and services;

NOW, THEREFORE, I, JOSEPH EJERCITO ESTRADA, President of the
Philippines, by virtue of the powers vested in me by law, do hereby
order:

SECTION 1. The rate of import duty for imported crude oil
and selected refined petroleum products as specifically listed in Annex
“A” hereof, as classified under Section 104 of the Tariff and Customs
Code of 1978, as last amended by EO 461, dated 31 December 1997, shall
be reduced from three percent (3%) to zero percent (0%).

SEC. 2. The nomenclature and the rates of import duty on tariff
headings not enumerated and listed in Annex “A” hereof shall remain in
force and effect.

SEC. 3. The zero import duty rates shall be in effect for three
(3) months and may be extended by the President upon recommendation of
the National Economic and Development Authority.

SEC. 4. Upon the effectivity of this Executive Order, the
articles specifically listed in the aforesaid Annex “A” which are
entered or withdrawn from warehouses in the Philippines for consumption
shall be levied the rates of duty therein prescribed.

SEC. 5. All Presidential issuances, administrative rules and
regulations, or parts thereof, which are inconsistent with this
Executive Order are hereby repealed or modified accordingly.

SEC. 6. This Executive Order shall take effect immediately.

Adopted: 08 Nov. 2000

By the President:

(Sgd.) RONALDO B. ZAMORA
Executive Secretary