Further Amending Presidential Decree No. 230, As Amended.
Download as PDF
Download as Word
Collections
Create new Collection
Overview
Full Text
Details
Case
Agency Issuance Number
Published Date
Further Amending Presidential Decree No. 230, As Amended.
Presidential Decree No. 1476
June 11, 1978
Case Overview and Summary
Summary of Presidential Decree No. 1476Policy and Rationale:
- The State aims to encourage domestic processing of local raw materials like copra. (Whereas clause)
- Certain importing countries impose tariff structures that burden processed items like coconut oil, making domestic processing less attractive. (Whereas clause)
- It is necessary to channel some exported copra towards domestic processing to increase capacity utilization, foreign exchange earnings, employment, and revenues without disrupting international commitments. (Whereas clause)
Export Duty Increase on Copra:
- The export duty on copra is increased from 6% of the gross F.O.B. value to the following rates: (Main provision)
- 7.5%, effective January 1, 1979 to December 31, 1980. (Section (a))
- 9%, effective January 1, 1981 to December 31, 1982. (Section (b))
- 10%, effective January 1, 1983. (Section (c))
Presidential Authority:
- The President retains the authority to modify or change the rates of duty on coconut products by executive order, as provided for in Section 515 of the Tariff and Customs Code. (Final provision)
Effectivity:
- This Decree takes effect immediately. (Final provision)
Amends
n/a
Amended by
n/a
Tags
Executive Issuances
Presidential Decrees
copra
coconut oil
export duty
domestic processing
raw materials
tariff structures
capacity utilization
foreign exchange earnings
employment
revenues
international commitments
presidential authority
executive order
tariff and customs code
Law
Further Amending Presidential Decree No. 230, As Amended.
Presidential Decree No. 1476
•June 11, 1978
MALACAÑANGM a n i l a
PRESIDENTIAL DECREE No. 1476
FURTHER AMENDING PRESIDENTIAL DECREE NO. 230, AS AMENDED.
WHEREAS, it is the policy of the State to extend rational encouragement to the domestic processing of local raw material, such as copra;
WHEREAS, the tariff structures of certain importing countries result in a net effective burden on processed items as in the case of coconut oil;
WHEREAS, it is also necessary to channel, without unduly disrupting international commitments, some of the exported copra toward domestic processing to increase domestic capacity utilization and to bolster gain to the economy in terms of foreign exchange value added, employment and revenues;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by the Constitution and pursuant to Section 515 of the Tariff and Customs Code, do hereby further amend Presidential Decree No. 230, as amended, by increasing the export duty on copra from six per cent (6%) of the gross F.O.B. value to as follows:
(a) 7 1/2%, effective January 1,...
Login to see full content
Amends
n/a
Amended by
n/a