President Rodrigo Duterte has signed several executive orders modifying the rates of import duty or tax on various products and equipment.
The President signed the following EOs, which were distributed to media on Monday:
EO 20 – Modifying the nomenclature and rates of import duty on various products under Section 1611 of Republic Act no. 10863, otherwise known as the Customs Modernization and Tariff Act
EO 21 – Modifying the nomenclature and rates of import duty on certain information technology products under Section 1611 of the Customs Modernization and Tariff Act, in order to implement the Philippines’ Tariff Commitments under the World Trade Organization — Information Technology Agreement
EO 22 – Reducing the rates of duty on capital equipment, spare parts and accessories imported by Board of Investments — registered new and expanding enterprises
EO 23 – Extending the effectivity of the most-favored-nation rates of duty on certain agricultural products under Republic Act no. 10863, otherwise known as the Customs Modernization and Tariff Act, and the other Philippine commitments under the World Trade Organization decision on waiver relating to special treatment for rice in the Philippines
According to EO 20, a new multi-year tariff schedule for 2017 to 2020 will help “promote transparency and stability, facilitate trade and enhance consumer welfare.”
Meanwhile, EO 22 extends the effectivity of a previous order providing for zero percent duty on certain articles imported by BOI-registered enterprises that are new or expanding.
Some of the documents provided did not include a copy of the Annexes detailing the new rates. JPV/rga
