Question & AnswerQ&A (EXECUTIVE ORDER NO. 376)
The main purpose of Executive Order No. 376 is to modify the rates of import duty on certain imported articles under Section 104 of the Tariff and Customs Code of 1978, in order to implement Section 1 of Republic Act 9281, thereby reinstating the effectivity of tax incentives for agriculture and fisheries enterprises until 2015.
EO No. 376 implements Section 1 of Republic Act No. 9281, which amended Section 109 of Republic Act 8435 (Agriculture and Fisheries Modernization Act of 1997) to provide duty exemptions on importation of agricultural and fishery inputs, equipment, and machinery.
Agricultural and fishery inputs, equipment, and machinery such as fertilizers, insecticides, pesticides, tractors, trailers, trucks, farm implements and machinery, harvesters, hybrid seeds, genetic materials, sprayers, packaging machinery and materials, bulk-handling facilities, weighing scales, harvesting equipments, spare parts of agricultural equipment, fishing equipments and parts, refrigeration equipments, and renewable energy systems like solar panels are exempted.
They are exempted from import duty up to the year 2015, as stated in the EO and Republic Act No. 9281.
The importation must be accompanied by a certificate of eligibility or accreditation issued by the Department of Agriculture and its deputized agencies.
The President is empowered, upon recommendation of the National Economic and Development Authority, to increase, reduce, or remove existing protective import duty rates and to modify the form of duty.
The Department of Agriculture, Department of Finance, Department of Trade and Industry, and the DTI Board of Investments, in consultation with the private sector and other government institutions, will conduct the annual review.
They are authorized to collect administrative fees and minimal and reasonable costs related to implementing the provisions of this EO.
EO No. 376 took effect thirty (30) days following its complete publication in two newspapers of general circulation in the Philippines.