Executive Order No. 112, s. 1967 Re: Modifying the Rates of Import Duty on Certain Imported Articles

January 22, 1968 REVENUE MEMORANDUM CIRCULAR NO. 02-68 TO : All Internal Revenue Officers and Employees and Others Concerned For the information and guidance of the officers and employees of this Bureau, there is quoted hereunder Executive Order No. 112 of the President of the Philippines, which is self-explanatory: "EXECUTIVE ORDER NO. 112 "MODIFYING THE RATES OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED UNDER REPUBLIC ACT NUMBERED NINETEEN HUNDRED THIRTY-SEVEN, OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES, AS AMENDED. "Pursuant to the powers vested in me by Section 401 of Republic Act Numbered Nineteen Hundred Thirty-Seven, I, FERDINAND E. MARCOS, President of the Philippines, do hereby direct and order: "SECTION 1. The articles specifically listed hereunder as classified under Section 104 of Republic Act Numbered Nineteen Hundred Thirty-Seven shall pay the following rates of import duty: "T.H. No. Description of Articles Rate of Duty 39.02 Polymerization products (e.g., polyethylenes and derivatives, polyisobutylene, polystyrene, chloride and acetate of polyvinyl and other polyvinyl derivatives, polyacrylic derivatives, polyallyl esters, copolymers, coumarone-indene resins): [...ad val. 20%] A. . . . B. Polyvinyl Chloride: 1. Resins: (a) Homopolymer, suspension type g.w., kg. P0.50% or ad val. 35% (b) Other g.w., kg. P0.30% or ad val. 20% 2. Compounds: (a) Wire and cable insulation compound when imported directly by bonafide wire and cable manufacturers certified as such by the National Economic Council and the Tariff Commission for their exclusive use; copolymer and medical grade compounds g.w., kg. P0.35 or ad val. 20% (b) Other g.w., Kg. 0.75 or ad. val. 40% 3. Sheets, strips, pipes, tubes and other extruded shapes ad val. 50% C. . . . D. . . . "SECTION 2. After the expiration of thirty (30) days from the issuance of this Order, all the above-described articles entered or withdrawn from warehouses, in the Philippines, for consumption shall be subject to the rates of import duty herein prescribed. "SECTION 3. Any unwarranted increase in prices of local products benefited by these tariff changes may be sufficient ground for the revocation of such tariff changes. "Done in the City of Manila, this 20th day of December, in the year of Our Lord, nineteen hundred and sixty-seven. "(SGD.) FERDINAND E. MARCOS "President of the Philippines "By the President: "(SGD.) RAFAEL M. SALAS "Executive Secretary" (SGD.) MISAEL P. VERA Commissioner of Internal Revenue