Amending Executive Order No. 955, Series of 1984, By Reducing the Rate Prescribed Therein to Five Percent (5%)
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Amending Executive Order No. 955, Series of 1984, By Reducing the Rate Prescribed Therein to Five Percent (5%)
Executive Order No. 988
October 10, 1984
Case Overview and Summary
Summary of Executive Order No. 988Reduction of Import Duty Rate
- The rate of additional import duty imposed under Executive Order No. 955 is reduced from ten percent (10%) to five percent (5%). (Section 1)
- This reduction is an essential component of the national economic recovery program to address the current economic crisis. (Whereas clauses)
Effective Dates
- For petroleum product imports, the reduced 5% rate takes effect on October 15, 1984. (Section 3)
- For all other imports, the reduced 5% rate takes effect on January 1, 1985. (Section 3)
Other Provisions
- The other provisions of Executive Order No. 955 and the rules and regulations issued pursuant to it remain valid and effective. (Section 2)
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Amending Executive Order No. 955, Series of 1984, By Reducing the Rate Prescribed Therein to Five Percent (5%)
Executive Order No. 988
•October 10, 1984
EXECUTIVE ORDER NO. 988 October 10, 1984
AMENDING EXECUTIVE ORDER NO. 955, SERIES OF 1984, BY REDUCING THE RATE PRESCRIBED THEREIN TO FIVE PERCENT (5%)
WHEREAS, the current economic crisis amounts to a grave emergency which affects the stability of the nation and requires immediate action;
WHEREAS, the issuance of this Executive Order is an essential and necessary component of the national economic recovery program formulated to meet and overcome the emergency;
NOW, THEREFORE, I, FERDINAND E., MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and the authority vested in me under Section 401 of Presidential Decree No. 1464, as amended, do hereby order and ordain:
Sec. 1. The rate of the additional import duly imposed under Executive Order No. 955, series of 1984, is hereby reduced from ten per cent (10%) to five per cent (5%).
Sec. 2. The other provisions of Executive Order No. 955, series of 1984, and the rules and regulations issued pursuant thereto shall remain valid and effective.
Sec. 3. This Executive...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
import duty
tax rate
economic crisis
economic recovery
petroleum products
effective date
executive order
EXECUTIVE ORDER NO. 988 October 10, 1984
AMENDING EXECUTIVE ORDER NO. 955, SERIES OF 1984, BY REDUCING THE RATE PRESCRIBED THEREIN TO FIVE PERCENT (5%)
WHEREAS, the current economic crisis amounts to a grave emergency which affects the stability of the nation and requires immediate action;
WHEREAS, the issuance of this Executive Order is an essential and necessary component of the national economic recovery program formulated to meet and overcome the emergency;
NOW, THEREFORE, I, FERDINAND E., MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and the authority vested in me under Section 401 of Presidential Decree No. 1464, as amended, do hereby order and ordain:
Sec. 1. The rate of the additional import duly imposed under Executive Order No. 955, series of 1984, is hereby reduced from ten per cent (10%) to five per cent (5%).
Sec. 2. The other provisions of Executive Order No. 955, series of 1984, and the rules and regulations issued pursuant thereto shall remain valid and effective.
Sec. 3. This Executive...
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