BY THE PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER NO. 486
MODIFYING THE NOMENCLATURE AND THE RATES OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF 1978 (PRESIDENTIAL DECREE NO. 1464 AS AMENDED)
WHEREAS, the government has continued to implement a tariff rationalization program aimed at promoting global competitiveness, simplifying the tariff structure for ease of customs administration and providing for a level playing field for domestic manufacturers;
WHEREAS, Executive Order No. 465 was issued on 13 January 1998 in line with the agreement reached during the Competitiveness Caucus held on 4 July 1997, that a review of the tariff structure of 22 industries/sectors be undertaken to correct any remaining distortions thereon as well as to smoothen the pace of the schedule of tariff reduction to deserving industries;
WHEREAS, following the issuance of EO 465, it was deemed necessary to review the tariff structure of residual items to achieve a total and comprehensive phased tariff reduction program;
WHEREAS, the recalibration of the tariff reduction program shall not serve to delay or obviate the attainment of a uniform level of tariff protection by the year 2004;
NOW, THEREFORE, I, FIDEL V. RAMOS, President 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 rates of import duty in accordance with the schedule indicated opposite each article as listed in the aforementioned "Annex".
SECTION 2. Upon the effectivity of this Executive Order, the articles specifically listed in the aforesaid "Annex" which are entered or withdrawn from warehouses in the Philippines for consumption shall be levied the rates of duty herein prescribed.
SECTION 3. All other Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly.
SECTION 4. This Executive Order shall take effect immediately following its complete publication in two (2) newspapers of general circulation in the Philippines.
DONE in the City of Manila, this 11th day of June in the year of Our Lord, Nineteen Hundred and Ninety Eight.
By the President:
ALEXANDER P. AGUIRRE
Published in Malaya and Manila Standard on 09 July 1998;
Effective, 10 July 1998.
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