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Executive Order No. 287 (1995)
WHEREAS, at the Twenty-Seventh Meeting of the ASEAN Economic Ministers held in Bandar Seri Begawan, Brunei Darussalam from 3-10 September 1995, the ASEAN Member Countries agreed that the starting date of the implementation of the tariff reduction schedule under the new time frame of the accelerated CEPT/AFTA be on 1 January 1996.
SECTION 1. The articles specifically listed in Annex "A" (Articles Granted Concessions Under the CEPT/AFTA) hereof as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be subject to the ASEAN Common Effective Preferential Tariff in accordance with the 1996 Schedule indicated in Column 4 of Annex "A". Implementation of the tariff reduction schedule for the succeeding years shall be subject to the issuance of separate implementing Executive Orders.
Sec. 2. The articles specifically listed in Annex "B" (Articles for Phasing-in the CEPT/AFTA) hereof shall be subject to the ASEAN rate in accordance with the 1996 Schedule indicated in Column 4 of Annex "B". Implementation of the tariff reduction schedule for the succeeding years shall be subject to the issuance of separate implementing Executive Orders.
Sec. 3. In the event that any subsequent changes are made in the basic (MFN) Philippine rate of duty on any of the articles listed in Annexes "A" and "B" to a rate lower than the rate prescribed in Column 4 of said Annexes, such article shall automatically be accorded the corresponding reduced rate of duty.
Sec. 4. The Margins of Preference (MOPs) accorded under the ASEAN Preferential Trading Arrangements (PTA) shall no longer be extended to any of the products listed in Annexes "A" and "B" hereof.
Sec. 5. From the date of effectivity of this Order, all articles listed in Annexes "A" and "B" entered or withdrawn from warehouses in the Philippines for consumption shall be imposed the rates of duty for 1996 herein prescribed subject to qualification under the Rules of Origin as provided for in the Agreement on the CEPT Scheme for the AFTA signed on 28 January 1992.
Sec. 6. All decrees, orders, issuances, and rules and regulations, or paths thereof, which are contrary to or inconsistent with this Executive Order are hereby repealed, amended or modified accordingly.
Sec. 7. This Executive Order shall take effect on 1 January 1996.
DONE in the City of Manila, this 12th day of December in the year of Our Lord, Nineteen Hundred and Ninety-Five.