Automatic Adjustment of Rates for Lower Basic Philippine Rate
- If the basic Philippine import duty rate on any article listed in Annex A is subsequently lowered below the concession rate, the reduced rate automatically applies to that article.
Application of Concession Rates Limited to Eligible Countries
- The concession rates in Annex A apply only to GATT contracting parties or countries having effective agreements with the Philippines.
- These agreements provide for most-favoured-nation treatment on tariffs.
Duty Rates for Articles Listed in Annex B
- Articles listed in Annex B are subject to the rates specified in Column 3 of Annex B.
- Such articles cannot be charged a tariff higher than the rate specified in Column 4 of Annex B.
Adjustment of Rates for Articles in Annex B Depending on Changes in Basic Philippine Rate
- If there is a reduction in the basic Philippine import duty for these articles, the reduced rate automatically applies.
- If there is an increase in the basic Philippine import duty:
- The increased rate applies if it does not exceed the concession rate in Column 4 of Annex B.
- The concession rate applies if the increased rate exceeds the concession rate in Column 4.
Effective Date and Application of New Rates
- The new duty rates apply to all described articles entered or withdrawn from Philippine warehouses for consumption after the order's effective date.
Implementation Date
- The order takes effect starting January 1, 1980.
Authority and Issuance
- The order is issued under the authority granted by Section 402 of Presidential Decree No. 1464, as amended.
- Signed by President Ferdinand E. Marcos and Presidential Executive Assistant Jacobo C. Clave in Manila on February 7, 1980.