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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 71 - AMENDING
Sec. 201 OF THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES, CHANGING
THE BASE FOR CUSTOMS VALUATION FROM HOME CONSUMPTION VALUE TO COST,
INSURANCE AND FREIGHT (C.I.F.) AND FOR OTHER PURPOSES
WHEREAS,
the predominant international customs valuation system is the Cost,
Insurance and Freight (C.I.F);
WHEREAS, the Philippines adopts the Home Consumption Value System of
valuation;
WHEREAS, the Government recognizes the importance of aligning its
system with that of its international trading partners, particularly
the Association of Southeast Asian Nations (ASEAN);
WHEREAS, the Cost, Insurance and Freight (C.I.F.) valuation system
conforms more to existing customs administrative procedures and
practices formulated to facilitate the flow of international trade;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1.
“Sec.
201.
The transaction value under this
section shall be trade value or price declared in the commercial, trade
or sales invoice. Where there exists a reasonable doubt as to the value
or price of the imported article declared in the entry, the correct
dutiable value of the article shall be ascertained by the Commissioner
of Customs from the reports of the Revenue Attaché or Commercial
Attaché (Foreign Trade Promotion Attaché), pursuant to
Republic Act Numbered Fifty-Four Hundred and Sixty-Six or other
Philippine diplomatic officers and from such other information that may
be available to the Bureau of Customs.
When the dutiable value provided
for in the preceding paragraphs can not be ascertained for failure of
the importer to produce the documents mentioned in the second
paragraph, or where there exists a reasonable doubt as to the dutiable
value of the imported article declared in the entry, it shall be the
domestic wholesale selling price or such similar article in Manila or
other principal markets in the Philippines on the date the duty becomes
payable on the article under appraisement, on the usual wholesale
quantities and in the ordinary course of trade, minus —
(a)
(b)
Sec. 2.
Sec. 3.
Sec. 4.
Done in the City of Manila,
this 25th day of November in the year of Our Lord, nineteen hundred and
eighty-six.
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