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Executive Order No. 306 (1987)
WHEREAS, further reduction in the rate of the customs duty on crude oil is consistent with government policy to subject raw materials to lower tariff rates than intermediate and finished goods.
Sec. 1. The rate import duty on crude oil falling under section 104 of the Tariff and Customs Code, as amended, is hereby reduced from 15% to 10% ad valorem, as follows:
T. H. No.
Description of Article
Rate of Duty
27.09
Petroleum oils and oils obtained from bituminous minerals, crude:
100
900
Other ad val.
10%
Sec. 2. Upon the effectivity of this Executive Orders, the above article which is entered or withdrawn from warehouses in the Philippines for consumption shall be subject to the rate of duty herein prescribed.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 All orders, issuances, rules, and regulations or parts thereof inconsistent with this Executive Order are hereby repealed or modified accordingly.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 20th day of October, in the year of Our Lord, nineteen hundred and eighty-seven.