EXECUTIVE ORDER NO. 288 December 12, 1995
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 AMENDED
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...
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Executive Orders
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 amended
Executive Order No. 288
Summary of Executive Order No. 288
Tariff Reform and Import Liberalization
- To achieve global competitiveness, the government will continue the import liberalization and tariff reform programs towards a uniform level of trade and industrial protection across sectors. (Preamble)
- A two-tiered tariff structure of 3% for raw materials and 10% for finished products, as listed in Annex "A", shall be fully implemented by January 1, 2003. (Section 2)
- Starting January 1, 2004, a uniform rate of 5% ad valorem shall be imposed on articles listed in Annex "A". (Section 3)
Tariff Rates on Specific Products
- The articles listed in Annex "A" shall be subject to the rates of import duty indicated opposite each article. (Section 1)
- Upon the effectivity of this Executive Order, the articles listed in Annex "A" entered or withdrawn from warehouses in the Philippines for consumption shall be levied the prescribed rates of duty. (Section 4)
Revocation and Effectivity
- All Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly. (Section 5)
- This Executive Order shall take effect 30 days following its complete publication in two newspapers of general circulation in the Philippines. (Section 6)
Tariff Reform and Import Liberalization
- To achieve global competitiveness, the government will continue the import liberalization and tariff reform programs towards a uniform level of trade and industrial protection across sectors. (Preamble)
- A two-tiered tariff structure of 3% for raw materials and 10% for finished products, as listed in Annex "A", shall be fully implemented by January 1, 2003. (Section 2)
- Starting January 1, 2004, a uniform rate of 5% ad valorem shall be imposed on articles listed in Annex "A". (Section 3)
Tariff Rates on Specific Products
- The articles listed in Annex "A" shall be subject to the rates of import duty indicated opposite each article. (Section 1)
- Upon the effectivity of this Executive Order, the articles listed in Annex "A" entered or withdrawn from warehouses in the Philippines for consumption shall be levied the prescribed rates of duty. (Section 4)
Revocation and Effectivity
- All Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly. (Section 5)
- This Executive Order shall take effect 30 days following its complete publication in two newspapers of general circulation in the Philippines. (Section 6)