Modifying the Rates of Import Duties on Imported Crude Oil and Selected Refined Petroleum Products Under Section 104

EXECUTIVE ORDER NO. 314 November 8, 2000

MODIFYING THE RATES OF IMPORT DUTIES ON IMPORTED CRUDE OIL AND SELECTED REFINED PETROLEUM PRODUCTS UNDER SECTION 104

WHEREAS, Section 6 of R.A. 8479 otherwise known as the "Downstream Oil Industry Deregulation Act of 1998" provides that a single and uniform tariff duty is imposed and collected both on imported crude oil and imported refined petroleum products at the rate of three percent (3%);

WHEREAS, Sections 104 and 401 of the Tariff and Customs Code of the Philippines (Presidential Decree No. 1464), as amended, empower the President upon the recommendation of the National Economic and Development Authority, to increase, reduce or remove existing protective rates of import duty, as well as to modify the form of duty;

WHEREAS, prices of imported crude oil and imported refined petroleum products in the international markets indicate upward trend;

WHEREAS, it is necessary to soften the impact of such increases on prices of basic commodities and services;

NOW, THEREFORE, I JOSEPH EJERCITO ESTRADA, President of the Philippines, by virtue of...

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Summary of Executive Order No. 314

Reduction of Import Duty Rates on Crude Oil and Refined Petroleum Products
- The import duty rate for imported crude oil and selected refined petroleum products listed in Annex "A" is reduced from 3% to 0%. (Section 1)
- The reduced 0% import duty rate applies to the following products:
    - Petroleum oils and oils obtained from bituminous minerals, crude (Heading 27.09)
    - Petroleum oils and oils obtained from bituminous minerals, other than crude (Heading 27.10)
    - Fuel oils (Heading 27.10)
    - Gas oils, kerosene, motor gasoline, and other heavy oils (Heading 27.10)
    - Liquefied petroleum gases and other gaseous hydrocarbons, including propane, butanes, and mixtures thereof (Heading 27.11)
    - Petroleum coke, both calcined and non-calcined (Heading 27.13)
    - Petroleum bitumen (Heading 27.13)
    - Other residues of petroleum oils or oils obtained from bituminous minerals (Heading 27.13)
- The import duty rates for tariff headings not listed in Annex "A" remain in force and effect. (Section 2)
- The 0% import duty rates may be subject to review by the President upon recommendation of the National Economic Development Authority after being in effect for 3 months. (Section 3)
- The reduced import duty rates apply to the listed products entered or withdrawn from warehouses in the Philippines for consumption upon the effectivity of the Executive Order. (Section 4)
- Any inconsistent presidential issuances, administrative rules, and regulations are repealed or modified accordingly. (Section 5)
- The Executive Order takes effect upon complete publication in two newspapers of general circulation in the Philippines. (Section 6)