Temporarily Modifying the Rates of Import Duty on Wheat under Section 104 of The Tariff and Customs Code of 1978 (Presidential Decree No. 1464), as amended

Republic of the Philippines
MALACAÑANG
Manila

BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER NO. 765 November 7, 2008

TEMPORARILY MODIFYING THE RATES OF IMPORT DUTY ON WHEAT UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978 (PRESIDENTIAL DECREE NO. 1464), AS AMENDED

WHEREAS, a reduction on tariff on food wheat would help stabilize the price of bread and other baked food products;

WHEREAS, a reduction on tariff on feed wheat would help lower the cost of feed ingredients and keep the prices of poultry and livestock products stable;

WHEREAS, setting the rate on food and feed wheat at the same level aims to prevent technical smuggling;

WHEREAS, Section 401 of the Tariff and Customs Code of 1978 (Presidential Decree No. 1464), as amended, empowers the President of the Republic of the Philippines to increase, reduce, or remove existing rates of import duty, as well as to modify the form of duty and the tariff nomenclature under Section 104 of the Code;

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic...

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Summary of Executive Order No. 765

Temporarily Modifying the Rates of Import Duty on Wheat
- Reduces the import duty rate on food wheat and feed wheat to 0% ad valorem for 6 months to:
    - Help stabilize the price of bread and other baked food products. (Section 1)
    - Help lower the cost of feed ingredients and keep the prices of poultry and livestock products stable. (Section 1)
    - Prevent technical smuggling by setting the same rate for food and feed wheat. (Section 1)
- The President is empowered to modify import duty rates under Section 401 of the Tariff and Customs Code of 1978. (Whereas clause)
- The 0% ad valorem duty rate applies to articles listed in Annex "A" for 6 months, subject to further review. (Section 3)
- The nomenclature and rates for tariff headings not listed in Annex "A" remain in force. (Section 2)
- Revokes or modifies contrary or inconsistent presidential issuances, rules, and regulations. (Section 4)
- Takes effect 30 days after publication in the Official Gazette or a newspaper of general circulation. (Section 5)