Section 1
Section 1. The articles specifically listed in Annex —A— hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be accorded the AICO rate of 5% as specified in Column 6 thereof.
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Executive Order No. 74 (1999)
Executive Order No. 74 (1999)
AICO Certificate of Eligibility Nos. Honda/1998/3 and Honda/1998/2 were issued on 5 October 1998 and 9 October 1998, respectively, in favor of the participating companies in the Honda AICO Arrangement: AICO Certificate of Eligibility Nos. Toyota/1998/1, Toyota/1998/3 and Toyota/1998/4 were issued on 28 October 1998 in favor of the participating companies in the Toyota AICO Arrangement; AICO Certificate of Eligibility No. Denso/1998/1 was issued on 4 November 1998 in favor of the participating co
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Section 2
Section 2. The AICO rate provided in Annex —A— shall be accorded to the AICO entity in Malaysia (Oriental Assemblers Sdn. Bhd.) effective from 5 October 1998 and to the AICO entity in Thailand (Honda Cars Manufacturing (Thailand) Co., Ltd.) effective from 9 October 1998.
Section 3
Section 3. The articles specifically listed in Annex —B— hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be accorded the AICO rate of 5% as component parts of Corolla passenger cars and the AICO rate of 3% as component parts of TUV commercial vehicles as specified in Column 6 thereof.
Section 4
Section 4. The AICO rate provided in Annex —B— shall be accorded to the AICO entity in Malaysia (Assembly Services, Sdn. Bhd.) and to the AICO entity in Thailand (Toyota Motor Thailand Co., Ltd.) effective 28 October 1998.
Section 5
Section 5. The articles specifically listed in Annex —C— hereof, as classified under Section 104 of the Tariff and Customs Code of 1978, as amended, shall be accorded the AICO rates as specified in Column 4 thereof.
Section 6
Section 6. The AICO rates provided in Annex —C— shall be accorded to the AICO entity in Thailand (Denso (Thailand) Co. Ltd.) effective 4 November 1998.
Section 7
Section 7. 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—, —B— and —C— to a rate lower than the AICO rate prescribed in Column 6 of Annexes —A— and —B— and in Column 4 of Annex —C—, such article shall automatically be accorded the corresponding reduced rate of duty. Effective 1 January 2003, the final CEPT rate on the subject articles shall apply.
Section 8
Section 8. Upon the effectivity of this Executive Order, the articles specifically listed in the aforesaid Annexes —A—, —B— and —C— which are entered or withdrawn from warehouses in the Philippines for consumption shall pay the applicable AICO preferential tariff rates specified under Sections 1, 3 and 5 hereof, subject to qualification under the Rules of Origin for the CEPT, as evidenced by the Certificate of Origin — Form —D—.
Section 9
Section 9. Any revision/s to the part numbers appearing in Column 4 of Annexes —A— and —B— shall be communicated immediately to the Bureau of Customs by the Board of Investments within five (5) days after receipt of the official copy of the revised part numbers from the ASEAN Secretariat.
Section 10
This Executive Order shall take effect immediately
Section 10. This Executive Order shall take effect immediately.
DONE in the City of Manila, this 15th day of January in the year of Our Lord, Nineteen Hundred and Ninety Nine.
(SGD.) JOSEPH EJERCITO ESTRADA
By the President:
(SGD.) RONALDO B. ZAMORA
Executive Secretary