Adoption of the Modified Standard Scheme for the Wearables Sector
DOF Department Order No. 003-99 • Department of Finance • DOF Orders • Jan 4, 1999
Full text
January 4, 1999 DOF DEPARTMENT ORDER NO. 003-99 In the interest of the service and pending review of the existing standard rates for textile and garments products, I hereby order the immediate adoption of the Modified Standard Scheme for the Wearables Sector . Under the Modified Standard Scheme, tax credits shall still be computed using the existing or updated standard rates. However, in no case shall the Center issue tax credits in excess of the actual duties and taxes paid as supported by the import/local purchase documents as the case may be. This scheme shall be applicable to all applications filed starting January 04, 1999 and shall continue indefinitely until such time the Standard Rates Committee (STARCOM) completes their review. lexlib For strict compliance. (SGD.) EDGARDO B. ESPIRITU Secretary
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