AMENDING THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES

WHEREAS, there is a pressing need to revise the
Tariff and Customs Code of the Philippines under Republic Act No. 1937,
as amended, so as to:

(1) Simplify the present complicated tariff structure and improve
thereby the administration of customs;
(2) Raise additional revenues;
(3) Provide tariff protection to economically desirable and deserving
local industries;
(4) Serve as an instrument for bargaining vis-a-vis other countries;
(5) Allocate properly available resources from investments in
non-essentials to investments in essential and exportable goods; and
(6) Prevent technical smuggling;

WHEREAS, I had certified to Congress in its last
sessions a bill entitled “Tariff and Customs Revision Act of 1972,” as
one of the priority measures vital to the national economic development
program of the Government;

WHEREAS, it is necessary that the bill as finally
passed by Congress be further improved to suit the needs of the changing
economic conditions of the country;

WHEREAS, it is believed that the amendments
introduced by this Decree on the “Tariff and Customs Revision Act of
1972,” as approved by Congress is in the national interest and for the
welfare of the people;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of
the Philippines, by virtue of the powers vested in me by the
Constitution as Commander-in-Chief of all the Armed Forces of the
Philippines, and pursuant to Proclamation No. 1081, dated September 21,
1972, and General Order No. 1, dated September 22, 1972, as amended, do
hereby decree and order that the amended Tariff and Customs Code of the
Philippines as approved by Congress, and as further amended by this
Decree, is hereby adopted and approved, and made part of the law of the
land.

I further order that the Secretary of Finance, the Director-General
of the National Economic Development Authority and all other agencies of
the Government concerned take the steps necessary for the prompt and
effective implementation of this Decree.

This Decree shall be in full force and effect thirty (30) days after
its promulgation, except Section 104 of this Code (rates of import duty)
which shall take effect on January 1, 1973.

Done in the City of Manila, this 27th day of October, in the year of
Our Lord, nineteen hundred and seventy-two.

(Sgd.) FERDINAND E. MARCOS President Republic of the Philippines