MODIFYING THE NOMENCLATURE AND RATES OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED

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WHEREAS, Sections 104 and 401 of the Tariff and Customs Code (Presidential
Decree No. 1464 [1978]), as amended, empowers 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.

NOW, THEREFORE, I, FIDEL V.
RAMOS, President of the Republic 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” hereof as classified
under Section 104 of the Tariff and Customs Code of 1978, as amended, shall pay
the rates of import duty in accordance with the schedule indicated opposite
each article as listed in the aforementioned Annex “A”; Provided, that the
rates of duty indicated for the year 2000 shall continue to be levied, imposed,
and collected in the succeeding years unless otherwise amended.

Section 2. The nomenclature and rates of import duties of tariff headings not
enumerated and listed as represented by the symbol “x x x” in the aforesaid
Annex “A” shall remain in force and effect.

Section 3. 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specifically listed in the aforesaid Annex “A” which are entered or withdrawn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.

Section 4. The provisions of Section 3 of Republic Act No. 7369, also known as
“An Act Granting Tax and Duty Exemption and Tax Credit on Capital Equipment”,
which provides that articles enumerated therein shall be exempt from payment of
import duties for a period of three (3) years starting 1 January 1995, shall
remain in force and effect.

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

Section 6. This Executive Order shall take effect thirty (30) days following
its complete publication in two (2) newspapers of general circulation in the
Philippines.

DONE in the City of Manila, this 18th day of July in the year
of Our Lord, Nineteen Hundred and Ninety-Four.

(Sgd.) FIDEL
V. RAMOS
President of the Philippines

By the President:

(Sgd.) TEOFISTO T. GUINGONA, JR.
Executive Secretary

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