MALACAÑANG
Manila
EXECUTIVE
ORDER NO. 260
MODIFYING THE RATES OF DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED UNDER
THE TARIFF AND CUSTOMS CODE OF 1978, AS AMENDED, IN ORDER TO IMPLEMENT THE
PREFERENTIAL TARIFF RATES ON CERTAIN PRODUCTS UNDER THE ASEAN INDUSTRIAL
COOPERATION (AICO) SCHEME, IN FAVOR OF HONDA CARS PHILIPPINES, INC. (HCPI)-(COE
NOS. HONDA/2003/27 AND HONDA/2003/29)
WHEREAS, the Philippines is a Contracting Party to the Basic Agreement on
the ASEAN Industrial Cooperation Scheme (AICO) signed in Singapore on 27 April
1996;
WHEREAS, the Philippines is a participating country in the approved AICO
Arrangements of Honda Cars Philippines, Inc. (HCPI) along with Thailand and
Malaysia;
WHEREAS, under the Honda AICO Arrangement, the Philippines (Honda Cars
Philippines, Inc.) will import from Thailand (Honda Automobile (Thailand) Co.
Ltd.) and Malaysia (Honda Malaysia Sdn. Bhd.) certain original equipment
manufacture (OEM) automotive parts/components for Honda Civic passenger cars (HS
8703.90 10). In exchange, Thailand and Malaysia will import from the Philippines
complementary parts/components for the (OEM) of Honda Civic, Honda City, Honda
Accord and CRV;
WHEREAS, AICO
Certificate of Eligibility Nos. Honda/2003/27 and Honda/2003/29 were issued on
11 and 29 August 2003, respectively, in favor of the participating companies in
the Honda AICO Arrangement;
WHEREAS, in
consonance with Articles 5 and 7 of the Basic Agreement
of the AICO Scheme, participating companies in the approved Honda AICO
Arrangements shall qualify for 0-5% preferential tariff rates to be extended by
Thailand, Malaysia and the Philippines as participating countries.
NOW,
THEREFORE, I, GLORIA MACAPAGAL ARROYO, President of the Philippines,
pursuant to 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 accorded the AICO rate of 3% on parts/components of Honda Civic (HS
8703.90 10) as specified in Column 6 thereof.
SECTION 2.
The AICO rate provided in Annex
“A” shall be accorded to the AICO entity in Thailand (Honda
Automobile (Thailand) Co. Ltd.) and Malaysia (Honda Malaysia Sdn. Bhd.) upon the
effectivity of this Executive Order.
SECTION 3.
In the event that any subsequent changes are made in the basic (MFN)
Philippine rate of duty on any of the articles listed in Annex “A” to
a rate lower than the AICO rate prescribed in Column 6 of Annex “A”
such articles shall automatically be accorded the corresponding reduced rate of
duty.
SECTION 4.
Upon the effectivity of this Executive Order, the articles specifically
listed in the aforesaid Annex “A” which are entered or withdrawn from
warehouses in the Philippines for consumption shall pay the applicable AICO
preferential tariff rates specified in Section 1 hereof, subject to compliance
with the Rules of Origin for the Common Effective Preferential Tariff (CEPT).
SECTION 5.
This Executive Order shall take effect immediately.
Done in the
City of Manila, this 30th day of December, in the year of Our Lord,
two thousand and three.
(signature of
the President)
By the President
(Signed) AVELINO J. CRUZ, JR.
Acting Executive
Secretary
to view Annex A
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