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Executive Order No. 74 (2012)
MODIFYING THE RATES OF DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED FOR UNDER THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES (TCCP), AS AMENDED, IN ORDER TO IMPLEMENT THE PHILIPPINE TARIFF COMMITMENTS ON CERTAIN PRODUCTS INCLUDED IN THE SENSITIVE LIST AND THE TRANSFER OF CERTAIN TARIFF LINES FROM THE SENSITIVE TRACK TO THE NORMAL TRACK UNDER THE ASSOCIATION OF SOUTHEAST ASIAN NATIONS (ASEAN) — KOREA FREE TRADE AREA (AKFTA)
SECTION 1.
Reduction of Tariff Rates on Articles in the Sensitive List. The articles specifically listed in Annex A hereof, as classified under Section 104 of the TCCP, as amended, shall be subject to the rates of import duty as indicated in Columns 4-8 of Annex A.
SECTION 2.
Transfer of Articles from Sensitive to Normal Track, The articles specifically listed in Annex B hereof, as classified under Section 104 of the TCCP, as amended, shall be subject to the AKFTA rates of import duty as indicated in Column 3 of Annex B.
SECTION 3.
Applicable AKFTA Rate. For the Republic of Korea and the ASEAN 9 (i.e. Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Singapore, Thailand, and Viet Nam), the applicable rate shall be the AKFTA rate subject to the submission of the proper Certificate of Origin (CO) Form AK. Pursuant to Section 1313(a) of the TCCP, as amended, the Tariff Commission may, upon request, issue tariff classification rulings to confirm the applicable rates of duty of particular products subject to this section.
SECTION 4.
Rates for Articles in Annexes A and B Subject to Rules of Origin. From the date of effectivity of this Executive Order, all articles listed in Annexes A and B entered into, or withdrawn from warehouses in the Philippines for consumption shall be imposed the rates of duty therein prescribed, subject to compliance with the Rules of Origin as provided for in Article 5 of the TIG Agreement.
SECTION 5.
Right of Recourse. Nothing in this Executive Order shall preclude the Philippines from invoking its right of recourse to all trade remedy measures provided for in its laws, the TIG Agreement and other relevant international agreements, as an effective device against import surges.
SECTION 6.
Repealing Clause. All issuances, orders, rules and regulations, or parts thereof, which are inconsistent with this Executive Order are hereby repealed, amended or modified accordingly.
SECTION 7.
Separability Clause. If any provision of this Executive Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.
SECTION 8.
Effectivity Clause. This Executive Order shall take effect immediately upon publication in a newspaper of general circulation.
DONE, in the City of Manila, this 16th of April, in the year of our Lord, Two Thousand and Twelve.
(Sgd.) BENIGNO S. AQUINO III
By the President:
(Sgd.) PAQUITO N. OCHOA, JR. Executive Secretary