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Executive Order No. 303 (1987)
NOW, THEREFORE, I, CORAZON, C. AQUINO, President of the Philippines, by virtue of the powers vested in me by Section 401 of Presidential Decree No. 1464, as amended, do hereby order:
Sec. 1. The rate of import duty on crude oil falling under Section 104 of the Tariff and Customs Code, as amended, is hereby reduced from 20% to 15% ad valorem, as follows:
T. H. No.
Description of Article
Rate of Duty
27.09
Petroleum oils and oils obtained from bituminous minerals, crude:
(Ad Valorem)
100
xxx xxx xxx
900
Other
15%
Sec. 2. Upon the effectivity of this Executive Order, the above article which is entered or withdrawn from warehouses in the Philippines for consumption shall be subject to the rate of duty herein prescribed.
Sec. 3. All orders, issuances, rules and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.
Sec. 4. This Executive Order shall take effect thirty (30) days after date hereof.
DONE in the City of Manila this 25th day of August, in the year of Our Lord, nineteen hundred and eighty-seven.