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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 314 - MODIFYING
THE RATES OF IMPORT DUTIES ON IMPORTED CRUDE OIL AND SELECTED REFINED
PETROLEUM PRODUCTS UNDER SECTION 104 OF THE TARIFF AND CUSTOMS CODE OF
1978 (PRESIDENTIAL DECREE NO. 1464, AS AMENDED)
WHEREAS,
Sec. 6 of RA 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, Section s 104 and 401 of the Tariff and Customs Code of the
Philippines (PD 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 the powers vested in me by law, do hereby
order:
Section 1.
Sec. 2.
Sec. 3.
Sec. 4.
Sec. 5.
Sec. 6.
DONE, in the City of Manila,
this 8th day of November, in the Year of Our Lord, Two Thousand.
Hdg.
No.
27.09
27.10
bituminous
minerals, other than crude;
preparations not elsewhere
specified or
included, containing by weight
70% or more
of petroleum oils or of oils
obtained from
bituminous minerals, these oils
being the
basic constituents of the
preparations.
2710.00
10
2710.00 20
2710.00 30
2710.00 40
2710.00 50
2710.00 60
2710.00 70
2710.00 80
2710.00
90
2711.11
00
2711.12 00
2711.13 00
2711.14 00
2711.19
10
2711.19 90
2711.21 00
2711.29 00
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Since 19.07.98.