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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 156 - FURTHER
AMENDING Sec. 201 OF THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES,
AS AMENDED, CHANGING THE BASE FOR CUSTOMS VALUATION FROM HOME
CONSUMPTION VALUE TO COST, PLUS INSURANCE AND FREIGHT (C.I.F) AND FOR
OTHER PURPOSES
WHEREAS,
the predominant international customs valuation system is Cost,
Insurance and Freight;
WHEREAS, the Philippines has previously adopted the Home Consumption
Value System of valuation;
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.
Where the fair market value or
price of the article cannot be ascertained thereat or where there
exists a reasonable doubt as to the fairness of such value or price,
then the fair market value or price in the principal market in the
country of manufacture or origin, if it is not the country of
exportation, or in a third country with the same stage of economic
development as the country of exportation shall be used.
When the dutiable value of the
article cannot be ascertained in accordance with the preceding
paragraphs or where there exists a reasonable doubt as the cost (fair
market value) 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 or Commercial
Attaché (Foreign Trade Promotion Attaché), pursuant to
Republic Act Numbered Fifty-Four Hundred and Sixty-Six or other
Philippine diplomatic officers or Customs Attaches and from such other
information that may be available to the Bureau of Customs. Such values
shall be published by the Commissioner of Customs from time to
time.
When the dutiable value cannot
be ascertained as provided in the preceding paragraphs, 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 of such or similar article in Manila or other principal
markets in the Philippines on the date the duty become 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 30th day of March, in the year of Our Lord, nineteen hundred and
eighty-seven.
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