Reduction of Tariff Rates for Certain Construction Materials
Republic Act No. 1490, enacted on June 16, 1956, empowers the President of the Philippines to reduce tariff rates on specific construction materials due to shortages. Following an investigation and recommendation by the National Economic Council, the President can lower tariffs on materials such as cement, steel, asphalt, and plumbing supplies by up to 100% depending on the material. This authority will remain in effect until a new tariff law is enacted. The act aims to address public interest and the urgent need for these construction materials.
Law Information
- Reference Number
- Republic Act No. 1490
- Date Enacted
- Category
- Statutes
- Subcategory
- Republic Acts
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 16, 1956
REPUBLIC ACT NO. 1490
AN ACT DECLARING SHORTAGES IN CERTAIN CONSTRUCTION MATERIALS AND AUTHORIZING THE PRESIDENT OF THE PHILIPPINES TO REDUCE TARIFF RATES FOR SUCH CONSTRUCTION MATERIALS
SECTION 1. In view of the shortage of the materials hereinafter specified, the President of the Philippines, upon prior investigation by and recommendation of the National Economic Council, which shall conduct public hearings to determine the acuteness of the shortage demanding the reduction considering public interest, is hereby authorized to reduce the present rates of tariff duty provided under existing law by not more than the corresponding percentage as follows: aisa dc
| 1. | Cement |
70%
|
|
|
||
| 2. | Steel, reinforcing and structural |
75%
|
|
|
||
| 3. | Asphalt |
100%
|
|
|
||
| 4. | G.I. sheets and building hardwares |
75%
|
|
|
||
| 5. | Pipes and plumbing materials |
75%
|
|
|
||
| 6. | Electric wires |
75%
|
SECTION 2. The authority herein granted and the rates as reduced by the President under the authority of this Act shall terminate upon the enactment of a new tariff law.
SECTION 3. This Act shall take effect upon its approval.
Approved: June 16, 1956
Published in the Official Gazette, Vol. 52, No. 8, p. 3902 on July 31, 1956
Cite This Law
Reduction of Tariff Rates for Certain Construction Materials, Republic Act No. 1490, Jun 16, 1956 (Philippines)
Reduction of Tariff Rates for Certain Construction Materials, Republic Act No. 1490 (Phil. 1956)
Related Laws
- Restructuring the Import Duty Rates and Classification of Certain Articles Under Tariff and Customs CodeRepublic Act No. 6647 • Jan 29, 1988 • Statutes
- Lifting the Suspension of the Application of the Tariff Reduction Schedule on PetrochemicalsExecutive Order No. 486 • Jan 12, 2006 • Presidential Issuances
- Modifying the Nomenclature and Rates of Duty on Certain Imported Articles as Provided for Under the Tariff and Customs CodeExecutive Order No. 185 • Jun 26, 2015 • Presidential Issuances
- Revised Guidelines for the Establishment of Construction Materials Price, Standard Labor and Equipment Rental Rates DatabaseDPWH Department Order No. 72, s. 2018 • May 2, 2018 • Other Rules and Procedures
- Modified Rates of Import Duty on Certain Articles Under Sec. 104 of Tariff and Customs Code of 1978Executive Order No. 450 • Jul 22, 2005 • Presidential Issuances
- Modifying the Nomenclature and the Rates of Import Duty on Certain Iron and Steel ProductsExecutive Order No. 898 • Jun 22, 2010 • Presidential Issuances
Browse More Statutes
Explore other laws in the Statutes category.
View All StatutesNeed Help Understanding This Law?
Ask our AI assistant to explain provisions, implications, or related laws.
Ask AI About This Law