MALACANANG
Manila
BY THE
PRESIDENT OF THE PHILIPPINES
EXECUTIVE ORDER
NO. 486
LIFTING THE SUSPENSION OF THE APPLICATION OF THE TARIFF REDUCTION SCHEDULE ON
PETROCHEMICALS AND CERTAIN PLASTIC PRODUCTS UNDER THE COMMON EFFECTIVE
PREFERENTIAL TARIFF (CEPT) SCHEME FOR THE ASEAN FREE TRADE AREA (AFTA)
WHEREAS,
Executive Order 234 dated 27 April 2000, which implemented the 2000-2003
Philippine schedule of tariff reduction of products transferred from the
Temporary Exclusion List and the Sensitive List to the Inclusion List of the
accelerated CEPT Scheme for the AFTA, provided that the CEPT rates on
petrochemicals and certain plastic products will be reduced to 5% on 01 January
2003;
WHEREAS, Executive Order 161
issued on 9 January 2003 provides for the suspension of the application of the
tariff reduction schedule on petrochemicals and certain products in 2003 and
2004 only;
WHEREAS, the government
recognizes the need to provide an enabling environment for the naphtha cracker
plant to attain international competitiveness;
WHEREAS, the NEDA Board
approved the lifting of the suspension of the aforesaid tariff reduction
schedule on petrochemicals and certain plastic products and the reversion of the
CEPT rates on these products to EO 161 (s.2003) levels once the naphtha cracker
plant is in commercial operation;
NOW, THEREFORE, I, GLORIA
MACAPAGAL-ARROYO, President of the Republic of the Philippines, pursuant to
the powers vested in me under Section 402 of the Tariff and Customs Code of 1978
(Presidential Decree No. 1464), as amended, do hereby order:
SECTION 1. The
articles specifically listed in Annex "A" (Articles Granted Concession
under the CEPT Scheme for the AFTA) hereof,
as classified under Section 104 of the Tariff and Customs Code of 1978, as
amended, shall be subject to the ASEAN CEPT rates in accordance with the
schedule indicated in Column 4 of Annex "A". The ASEAN CEPT rates
so indicated shall be accorded to imports coming from ASEAN Member States
applying CEPT concession to the same product pursuant to Article 4 of the CEPT
Agreement and Its Interpretative Notes.
SECTION 2. In the
event that any subsequent change is made in the basic (MFN) Philippine rate of
duty on any of the article listed in Annex "A" to a rate lower than the
rate prescribed in Column 4 of Annex ""A, such article shall
automatically be accorded the corresponding reduced duty.
SECTION 3. From the
date of effectivity of this Executive Order, all articles listed in Annex "A"
entered into or withdrawn from warehouses in the Philippines for consumption
shall be imposed the rates of duty therein prescribed subject to qualification
under the Rules of Origin as provided for in the Agreement on the CEPT Scheme
for the AFTA signed on 28 January 1992.
SECTION 4.
The Department of Trade and Industry, in coordination with National Economic and
Development Authority, the Department of Finance, the Tariff Commission and the
Bureau of Customs, shall promulgate the implementing rules and regulations that
will govern the reversion of the CEPT rates on petrochemicals and plastic
products to EO 161 (s.2003) levels once the naphtha cracker plant is in
commercial operation.
SECTION 5.
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 6. 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 12th
day of January in the year of Our Lord Two Thousand and Six.
Signature of the President
By the President:
EDUARDO R. ERMITA
Executive Secretary
to view
Annex "A"
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