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PRESIDENTIAL DECREE NO. 1526
PRESIDENTIAL DECREE NO. 1526
- AMENDING HEADING 56.02, CHAPTER 56 OF THE REVISED TARIFF AND
CUSTOMS CODE OF THE PHILIPPINES
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WHEREAS, it
has become necessary to update the provisions of the Tariff and
Customs Code in order to make it more responsive to ever changing
business conditions; chanroblesvirtualawlibrary
WHEREAS, Presidential Decree No. 1258-A was promulgated to
rectify a deficiency of Presidential Decree No. 750 by providing
a uniform tariff on all importations of acetate tow; chanroblesvirtualawlibrary
WHEREAS, the existing provisions of P.D. No. 1258-A are still
inadequate to carry out its declared intention of doing away with
the classification into two categories of acetate tow importation
resulting in discrimination, considering that while filter
rod manufacturers have to pay 20% ad valorem duties when
they import acetate tow, other users may import the same
materials at only 10% ad valorem duties, thereby resulting in
different rates of duties for the same kind of importations; and
WHEREAS, in order to correct this discriminatory situation, there
is a need to remove the classification or distinction between
filter rod manufacturers who import acetate tow and other users
who import the same material, so that they will both have to pay
a uniform rate of 10% ad valorem duties on their acetate tow
importations.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the
Constitution, and in view of the above premises, do hereby decree
and order: chanroblesvirtualawlibrary
Section 1. Heading No. 56.02, Chapter 56 of the
Revised Tariff and Customs Code of the Philippines, as amended by
Presidential Decrees Nos. 34 and 1258-A, is hereby further
amended to read as follows:cralaw:red
"56.02 Continuous filament tow for the
manufacture of man-made fibres (discontinuous):cralaw:red
A. Articles not included in
sub-heading
B hereof ad val. 10%
B. Polyester filament tow, except
when
imported directly by textile spinning mills under prior
joint authorization of the Tariff Commission and the
Board of Investments ad val 30% chanroblesvirtualawlibrary
Section 2. All laws, decrees, orders, rules,
and regulations or parts thereof inconsistent with any of
the provisions of this Decree are hereby repealed or
modified accordingly.
Section 3. This Decree shall take effect immediately.
DONE in the City of Manila,
this 11th day of June, in the year of Our Lord, nineteen hundred
and seventy-eight.
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