MODIFYING THE NOMENCLATURE AND THE RATES OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978 (PRESIDENTIAL DECREE NO. 1464), AS …

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WHEREAS, the Medium-Term Philippine Development Plan (MTPDP), 1993-1998
focuses on global competitiveness and people empowerment as the twin strategy
towards achieving sustainable economic and human development;

WHEREAS, in order to achieve global competitiveness, the said Plan
stipulates that the Government should continue to undertake the import
liberalization and the tariff reform programs towards achieving a structure
which approximates uniform effective levels of trade and industrial protection across
various sectors of the economy;

WHEREAS, during the Economic Caucus held on 22 July 1993 and the People’s
Economic Summit on 8 September 1993, it was agreed to further liberalize trade
policy through tariff reform and import liberalization;

WHEREAS, as declared in the State of the Nation Address delivered on 25
July 1994, the government “will continue, if not accelerate, the program to
reduce tariffs until these reach one uniform rate” to improve the
competitiveness of local industries;

WHEREAS, the reduction in tariff levels and in the spread of tariff rates
towards a uniform level of protection across all sectors will promote global
competitiveness, simplify the tariff structure for ease of customs
administration and provide a level playing field for local manufacturers
vis-a-vis foreign competition;

WHEREAS, Executive Order No. 264 issued on 22 July 1995 which took effect
as of 28 August 1995 implemented the tariff reduction program on industrial
products under Chapters 25-97 of the Tariff Code;

WHEREAS, there is a need to further modify tariff rates on certain products
in the said Executive Order as well as include specific items not covered
therein;

WHEREAS, a parallel tariff reduction program on agricultural products under
Chapter 1-14 of the Tariff Code had to be put in place;

WHEREAS, NEDA Resolution No. 3 (s. 1995) dated 14 February 1995 unanimously
approved the adoption by the Philippines of the 1992 amendments to the
Harmonized Commodity Description and Coding System;

WHEREAS, Section 401 of the Tariff and Customs Code of 1978 (Presidential
Decree No. 1464), as amended, empowers the President to increase, reduce or
remove existing protective rates or import duty as well as to modify the form
of duty upon the recommendation of the National Economic and Development
Authority.

NOW, THEREFORE, I, FIDEL V.
RAMOS, 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” 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 as listed in the aforementioned Annex.

SEC. 2. A two-tiered tariff structure of 3% and 10% for raw materials and
finished products, respectively, as listed in Annex “A” hereof, shall be fully
implemented by 1 January 2003. The details of such tariff structure shall be
prepared and submitted to the President of the NEDA in accordance with Section
401 of the same Code.

SEC. 3. Starting 1 January 2004, a uniform rate of 5% ad valorem shall be
imposed on articles listed in Annex “A” hereof.

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 herein prescribed.

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

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

DONE in the City of Manila, this 12th day of December in the year of Our
Lord, Nineteen Hundred and Ninety-Five.

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

By the President:

(Sgd.) RUBEN D. TORRES
Executive Secretary

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