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Manila BY THE PRESIDENT OF THE PHILIPPINES EXECUTIVE ORDER NO. 86 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 GOYA, INC. (GOYA)
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 Scheme
of GOYA, Inc., along with Indonesia; WHEREAS, AICO Certificate of Eligibility No. Nestle/2001/4 (A) was reissued on 30 July 2001 nullifying AICO Certificate of Eligibility No. Nestle/2001/4 issued on 29 May 2001 in favor of the participating companies in the Goya, Inc. AICO Arrangement; WHEREAS, in consonance with Articles 5 and 7 of the Basic Agreement on the AICO Scheme, participating companies in the approved Goya, Inc. Arrangement shall qualify for 0-5% preferential tariff rates to be extended by Indonesia and the Philippines as participating countries, effective within 45 days from the date of issuance of the Certificate of Eligibility by the ASEAN Secretariat. NOW, THEREFORE, I, GLORIA MACAPAGAL ARROYO, President of the Philippines, pursuant to the powers vested in me under Section 402 of the Tariff and Customs Code of 1978, as amended, 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 5% as specified in Column 4 thereof. SEC 2. The AICO rate provided in Annex “A” shall be accorded to the AICO entity in Indonesia (PT. Nestle Indonesia) effective 24 July 2001. SEC 3. In the event that any subsequent changes are made in the basic (Most Favored Nation) Philippine rate of duty on any of the articles listed in Annex “A “ to a rate lower than the AICO rate prescribed in Column 4 thereof , such articles shall automatically be accorded the corresponding reduced rate of duty. Effective 1 January 2003, the final CEPT rate on the subject articles shall apply.
SEC 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withdrawn from warehouses in the Philippines for consumption shall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 under
Section 1 hereof, subject to qualification under the Rules of
Origin for the CEPT, as evidenced by the Certificate of Origin –
Form “D”. SEC 5. The Secretary of Finance in consultation with the National Economic and Development Authority (NEDA) shall issue the appropriate guidelines to implement and rationalize the preferential tariff privilege herein granted. SEC 6. This Executive Order shall take effect immediately. Done in the City of Manila, this 18th day of March in the year of Our Lord, two thousand and two. By the President: (signed)
Annex
“A” ARTICLES
GRANTED PREFERENTIAL TARIFF UNDER THE
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