MODIFYING THE NOMENCLATURE AND THE RATES OF IMPORT DUTY ON VARIOUS PRODUCTS UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF THE 1978 (PRESIDENTIAL DECREE NO. 1464, AS AMENDED)
WHEREAS,
the modification in the rates of duty of imported raw materials will
provide the necessary assistance to domestic industries to be globally
competitive vis-a-vis foreign counterparts;
WHEREAS,
in these times of economic difficulty, local industries need all the
assistance they can get from government to keep their business afloat;
WHEREAS,
Section 401 of the Tariff and Customs Code of 1978, as amended,
empowers the President to increase, reduce or remove existing rates of
duty, as well as to modify the tariff nomenclature.
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:
SECTION 1. The
articles specifically listed in “Annex A[1] hereof, as classified under
Section 104 of the Tariff and Customs Code of 1978, as amended, shall
be subject to the rates of import duty in accordance with the schedule
indicated opposite each article.
SECTION 2. The
nomenclature and the rates of import duty on tariff headings not
enumerated and those listed but represented by the symbol “x x x” shall
remain in force and effect.
SECTION 3. Upon
the effectivity of this Executive Order, the articles specifically
listed in the aforesaid “Annex” which are entered or withdrawn from
warehouses in the Philippines for consumption shall be levied the rates of duty herein prescribed.
SECTION 4. All
other Presidential issuances, administrative rules and regulations, or
parts thereof, which are inconsistent with this Executive Order are
hereby revoked or modified accordingly.
SECTION 5. This
Executive Order shall take effect immediately following its complete
publication in two (2) newspapers of general circulation in the Philippines.
Adopted: 15 March 2002
By the President:
(SGD.) ALBERTO G. ROMULO
Executive Secretary