Amends
n/a
Amended by
n/a
Executive Orders

Suspending the Export and Premium Duty on All Mineral Products

Executive Order No. 587

EXECUTIVE ORDER NO. 587 March 25, 1980

SUSPENDING THE EXPORT AND PREMIUM DUTY ON ALL MINERAL PRODUCTS

WHEREAS, Executive Order No. 581 dated March 11, 1980, reimposes the export tax and premium duty on all mineral products, including veneer and lumber;

WHEREAS, the increase in fuel prices and changes in the world market conditions adversely affected the mineral industry making it uncompetitive abroad; and

WHEREAS, the export tax and premium duty imposed on mineral products have snail-paced and weakened the country's incentive program to the mining industry's development and sustenance as a major export industry;

NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers vested in me by law, do hereby order and direct that the export tax and premium duty reimposed by Executive Order No. 581 dated March 11, 1980, be suspended, with the exception of lumber and veneer.

This Order shall take effect immediately.

Done in the City of Manila, this 25th day of March, in the year of...

Summary of Executive Order No. 587

Suspension of Export and Premium Duty on Mineral Products
- The export tax and premium duty reimposed by Executive Order No. 581 dated March 11, 1980 on all mineral products, except lumber and veneer, are suspended.
• This is based on the following considerations:
• The increase in fuel prices and changes in world market conditions have adversely affected the mineral industry, making it uncompetitive abroad. (Whereas clause)
• The export tax and premium duty imposed on mineral products have slowed down and weakened the country's incentive program for the development and sustenance of the mining industry as a major export industry. (Whereas clause)
- This Order takes effect immediately. (Section 1)

AIC Grande Tower Garnet Road
Ortigas Center, Pasig City
Metro Manila Philippines

Mobile No. +639451244898
digestph@gmail.com
Please read our FAQ before contacting us.