EXECUTIVE ORDER NO. 264 July 22, 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 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...
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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. 264
This law modifies the nomenclature and 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.
Key provisions:
- The articles specifically listed in Annex "A" shall be subject to the rates of import duty indicated opposite each article as listed in the Annex. (Section 1)
- A two-tiered tariff structure of 3% and 10%, for raw materials and finished products respectively, 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 the articles listed in Annex "A". (Section 3)
- The nomenclature and rates of import duty on tariff headings not enumerated and those listed but represented by the symbol "..." in Annex "A" shall remain in force and effect. (Section 4)
- Upon the effectivity of this Executive Order, the articles specifically listed in Annex "A" which are entered or withdrawn from warehouses in the Philippines for consumption shall be levied the rates of duty prescribed herein. (Section 5)
- The provisions of Executive Order 204 (s. 1994) and all other Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly. (Section 6)
- This Executive Order shall take effect 30 days following its complete publication in two (2) newspapers of general circulation in the Philippines. (Section 7)
Key provisions:
- The articles specifically listed in Annex "A" shall be subject to the rates of import duty indicated opposite each article as listed in the Annex. (Section 1)
- A two-tiered tariff structure of 3% and 10%, for raw materials and finished products respectively, 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 the articles listed in Annex "A". (Section 3)
- The nomenclature and rates of import duty on tariff headings not enumerated and those listed but represented by the symbol "..." in Annex "A" shall remain in force and effect. (Section 4)
- Upon the effectivity of this Executive Order, the articles specifically listed in Annex "A" which are entered or withdrawn from warehouses in the Philippines for consumption shall be levied the rates of duty prescribed herein. (Section 5)
- The provisions of Executive Order 204 (s. 1994) and all other Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly. (Section 6)
- This Executive Order shall take effect 30 days following its complete publication in two (2) newspapers of general circulation in the Philippines. (Section 7)