Certifying that the Production of Polyester Fibers, as a Preferred Pioneer Industry, Shall Be Entitled to Post-Operative Tariff Protection
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Certifying that the Production of Polyester Fibers, as a Preferred Pioneer Industry, Shall Be Entitled to Post-Operative Tariff Protection
Executive Order No. 368
January 21, 1972
Case Overview and Summary
Summary of Executive Order No. 368Certifying Polyester Fiber Production as a Preferred Pioneer Industry Entitled to Post-Operative Tariff Protection
- The Board of Investments has registered Filipinas Synthetic Fiber Corporation for the production of polyester fiber as a preferred pioneer industry, and it is now operating on a commercial scale. (Preamble)
- Studies by the Board of Investments indicate that this project needs post-operative tariff protection against competing imported synthetic fibers. (Preamble)
Increased Import Duties on Polyester Fibers and Yarns
- The following articles classified under Section 104 of Republic Act No. 1937 shall pay the specified rates of import duty: (Section 1)
• Polyester filament yarn, except when imported directly by textile mills under prior joint authorization of the Tariff Commission and the Board of Investments, taking into account the quantity, quality and class of domestic production: 50% ad valorem (Section 1B)
• Polyester staple fibers, except when imported directly by textile spinning mills under prior joint authorization of the Tariff Commission and the Board of Investments, taking into account the quantity, quality and class of domestic production: 30% ad valorem (Section 1A)
Effective Date and Implementation
- After 30 days from the issuance of this Order, all the above-described articles entered or withdrawn from warehouse in the Philippines for consumption shall be subject to the prescribed rates of import duties. (Section 2)
Price Monitoring and Tariff Rate Modification
- Any unwarranted increase in the prices of local products benefited by these tariff changes shall constitute ground for the modification of these post-operative tariff rates. (Section 3)
- The Board of Investments shall make the proper representations with the Tariff Commission for appropriate action regarding price monitoring and tariff rate modification. (Section 3)
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Certifying that the Production of Polyester Fibers, as a Preferred Pioneer Industry, Shall Be Entitled to Post-Operative Tariff Protection
Executive Order No. 368
•January 21, 1972
EXECUTIVE ORDER NO. 368 January 21, 1972
CERTIFYING THAT THE PRODUCTION OF POLYESTER FIBERS, AS A PREFERRED PIONEER INDUSTRY, SHALL BE ENTITLED TO POST-OPERATIVE TARIFF PROTECTION
WHEREAS, the Board of Investments has registered Filipinas Synthetic Fiber Corporation for the production of polyester fiber as a preferred pioneer industry and has verified that the said enterprise is now operating on a commercial scale;
WHEREAS, studies conducted by said Board indicates that this project needs post-operative tariff protection against competing imported like or similar synthetic fibers;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, upon the recommendation of the Board of Investments and pursuant to the provisions of Section 8(c) of Republic Act No. 5186, otherwise known as the Investment Incentives Act, do hereby certify that the production in the Philippines of polyester fiber, as a preferred pioneer industry, shall be entitled to post-operative tariff protection in the form of increased customs duties on polyester fibers subject to the condition that at anytime during their effectivity, the increased tariff rates may be modified in accordance...
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Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Executive Orders
polyester fibers
pioneer industry
tariff protection
import duty
customs duties
textile mills
textile spinning mills
synthetic fibers
artificial fibers
yarn
staple fibers
continuous filament yarn
discontinuous fibers
EXECUTIVE ORDER NO. 368 January 21, 1972
CERTIFYING THAT THE PRODUCTION OF POLYESTER FIBERS, AS A PREFERRED PIONEER INDUSTRY, SHALL BE ENTITLED TO POST-OPERATIVE TARIFF PROTECTION
WHEREAS, the Board of Investments has registered Filipinas Synthetic Fiber Corporation for the production of polyester fiber as a preferred pioneer industry and has verified that the said enterprise is now operating on a commercial scale;
WHEREAS, studies conducted by said Board indicates that this project needs post-operative tariff protection against competing imported like or similar synthetic fibers;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, upon the recommendation of the Board of Investments and pursuant to the provisions of Section 8(c) of Republic Act No. 5186, otherwise known as the Investment Incentives Act, do hereby certify that the production in the Philippines of polyester fiber, as a preferred pioneer industry, shall be entitled to post-operative tariff protection in the form of increased customs duties on polyester fibers subject to the condition that at anytime during their effectivity, the increased tariff rates may be modified in accordance...
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