Modifying The Rates of Duty on Certain Imported Articles Under Section 104 of The Tariff and Customs Code of 1978, as amended, In Order to Implement Section 109 of Republic Act 8435, otherwise Known as the "Agriculture and Fisheries Modernization Act of 1997"

MALACAÑANG
Manila

BY THE PRESIDENT OF THE PHILIPPINES

Executive Order No. 127 September 23, 2002

MODIFYING THE RATES OF DUTY ON CERTAIN IMPORTED ARTICLES UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED, IN ORDER TO IMPLEMENT SECTION 109 OF REPUBLIC ACT 8435, OTHERWISE KNOWN AS THE "AGRICULTURE AND FISHERIES MODERNIZATION ACT OF 1997"

WHEREAS, the government needs to provide interim tariff adjustments to the agriculture and fisheries sectors to promote and foster their efficiency and global competitiveness.

WHEREAS, Section 109 of Republic Act No. 8435, otherwise known as the "Agriculture and Fisheries of Modernization Act of 1997" provides that all enterprises engaged in agriculture and fisheries as duly certified by the Department of Agriculture, in consultation with the Department of Finance and Board of Investments shall, for five (5) years after the effectivity of said Act, be exempt from payment of tariff duties for the importation of all types of agriculture and fishery inputs, equipment provided, however, that the imported agriculture and fishery inputs, equipment and machinery shall...

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Summary of Executive Order No. 127

Tariff Exemption for Agriculture and Fisheries Sector
- Provides interim tariff adjustments to promote efficiency and global competitiveness of agriculture and fisheries sectors. (Whereas clause)
- Implements Section 109 of Republic Act 8435 (Agriculture and Fisheries Modernization Act of 1997) which exempts enterprises engaged in agriculture and fisheries from payment of tariff duties for 5 years on importation of inputs, equipment, and machinery for their exclusive use. (Whereas clause)
- Amends Executive Order 133 (1999) which implemented the tariff exemption. (Whereas clause)

Amendments to Executive Order 133
- Replaces Economic Investigation and Intelligence Bureau (EIIB) with Bureau of Customs (BOC) in Sections 1 and 6 of Rule VII and Section 2 of Rule VIII of Annex "A". (Section 1)
- Articles listed in Annex "B" shall be accorded 0% duty until February 8, 2003, without requirement for certificate of eligibility or accreditation. (Section 2)
- Articles listed in Annex "C" shall be accorded 0% duty until February 8, 2003, subject to certificate of eligibility or accreditation from Department of Agriculture and rules in Annex "A" of EO 133. (Section 3)
- Rules for tariff-exempt importation of Annex "C" articles shall follow Annex "A" of EO 133. (Section 4)
- Articles entered and withdrawn from warehouses shall be levied prescribed duty rates. (Section 5)

General Provisions
- Revokes or modifies inconsistent presidential issuances, rules, and regulations. (Section 6)
- Takes effect immediately after publication in two newspapers of general circulation. (Section 7)