MALACAŇANG

Manila

 BY THE PRESIDENT OF THE PHILIPPINES

EXECUTIVE ORDER NO.  450
 

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

            WHEREAS, it is the policy of the government to promote the development of sustainable, prosperous and internationally competitive domestic industries;

            WHEREAS, certain manufacturing industries would gain greater competitiveness from a reduction in the cost of their imported inputs;

            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 said Code;

            NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

            SECTION 1.  The articles specifically listed in Annex "A" hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be subject to the Most-Favoured-Nation (MFN) rate of import duty in accordance with the schedule indicated opposite each article.

           SECTION 2.   The nomenclature and rates of import duty on tariff headings not enumerated and those listed but represented by the symbol "x x x" shall remain in force and in effect.

            SECTION 3.   Upon the effectivity of this Executive Order, the articles specifically listed in Annex "A" which are entered and withdrawn from warehouses in the Philippines for consumption shall be levied the MFN rates of duty therein prescribed.

           SECTION 4.   All presidential issuances, administrative rules and regulations or parts thereof, which are contrary to or inconsistent with this Executive Order are hereby revoked or modified accordingly.

           SECTION 5. This Executive Order shall take effect thirty (30)  days following its complete publication in two (2) newspapers of general circulation in the Philippines.

           Done in the City of Manila, this 22nd day of July, in the year of Our Lord, Two Thousand and Five.



By the President:

EDUARDO R. ERMITA
Executive Secretary

                                                                                                                Annex "A"