- Title
- Imposition of Premium Duty on Certain Export Products
- Reference
- Executive Order No. 425
- Date
- 1974-02-17
February 17, 1974
EXECUTIVE ORDER NO. 425
IMPOSING PREMIUM DUTY ON CERTAIN EXPORT PRODUCTS IN ADDITION TO EXPORT TARIFFS PROVIDED FOR UNDER REPUBLIC ACT NO. 1937, OTHERWISE KNOWN AS THE "TARIFF AND CUSTOMS CODE", AS AMENDED BY PRESIDENTIAL DECREE NO. 230
Pursuant to the powers vested in me by Section 515 of cdt
SECTION 1. In addition to the export duties, herein referred to as basic rate, levied under Section 514, Title III, Book I of cdtai
| Export Products | Premium Duty | |||
| WOOD PRODUCTS | ||||
| (1) | Logs, including poles | 30% | ||
| (2) | Lumber | 20% | ||
| (3) | Veneer, face and core | 20% | ||
| (4) | Plywood | 20% | ||
| MINERAL PRODUCTS | ||||
| (1) | Metallic ores and concentrates | |||
| (a) | Copper | 30% | ||
| (b) | Iron | 20% | ||
| (c) | Chromite | 20% | ||
| (2) | Non-metallic | |||
| (a) | Clinker, cement | 20% | ||
| (b) | Portland cement | 20% | ||
| PLANT AND VEGETABLE PRODUCTS | ||||
| (1) | Coconut | |||
| (a) | Copra | 30% | ||
| (b) | Desiccated coconut | 20% | ||
| (c) | Copra meal or cake | 20% | ||
| (d) | Coconut oil | 20% | ||
| (2) | Sugar and sugar products | |||
| (a) | Centrifugal sugar | 20% | ||
| (b) | Molasses | 20% | ||
Should the current price of any export product be below the established base price, then only the basic rate prescribed under
9SECTION 2. Initially, the base prices upon which the premium duty shall be levied shall be eighty per centum (80%) of the F.O.B. value of the exports established by the Bureau of Customs for February 1974. The National Economic and Development Authority shall, from time to time, review and establish such base prices taking into account, among others, the cost conditions in the various industries.
SECTION 3. This Order shall take effect immediately.
DONE in the City of Manila, this 17th day of February, in the Year of Our Lord, Nineteen Hundred and Seventy-Four.
Published in the Official Gazette, Vol. 70 No. 14 page 2679 on April 8, 1974.