WHEREAS, Sections 104 and 401 of the Tariff and Customs Code (Presidential Decree No. 1464 [1978]), as amended, empowers the President, upon the recommendation of the National Economic and Development Authority, to increase, reduce or remove existing protective rates of import duty, as well as to modify the form of duty.

NOW, THEREFORE, I, FIDEL V. RAMOS, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

Section 1. The articles specifically listed in Annex œA  hereof as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall pay the rates of import duty in accordance with the schedule indicated opposite each article as listed in the aforementioned Annex œA ; Provided, that the rates of duty indicated for the year 2000 shall continue to be levied, imposed, and collected in the succeeding years unless otherwise amended.

Section 2. The nomenclature and rates of import duties of tariff headings not enumerated and listed as represented by the symbol œx x x  in the aforesaid Annex œA  shall remain in force and effect.

Section 3. Upon the effectivity of this Executive Order, the articles specifically listed in the aforesaid Annex œA  which are entered or withdrawn from warehouses in the Philippines for consumption shall be levied the rates of duty therein prescribed.

Section 4. The provisions of Section 3 of Republic Act No. 7369, also known as œAn Act Granting Tax and Duty Exemption and Tax Credit on Capital Equipment , which provides that articles enumerated therein shall be exempt from payment of import duties for a period of three (3) years starting 1 January 1995, shall remain in force and effect.

Section 5. All Presidential issuances, administrative rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby revoked or modified accordingly.

Section 6. This Executive Order shall take effect thirty (30) days following its complete publication in two (2) newspapers of general circulation in the Philippines.

DONE in the City of Manila, this 18th day of July in the year of Our Lord, Nineteen Hundred and Ninety-Four.

(Sgd.) FIDEL V. RAMOS
President of the Philippines

By the President:

(Sgd.) TEOFISTO T. GUINGONA, JR.
Executive Secretary