TARIFFF [Autosaved]
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Transcript of TARIFFF [Autosaved]
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What is Tariff Adjustment?
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Tariff - a tax levied by a government on
imports or exports for purposes of
protection, support of the balance ofpayments, or the raising of revenue.
Tariff Adjustment -
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Why is there a need for TariffAdjustment?
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it is a means to expand international trade
in order to raise economic welfare ofparticipating countries
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FLEXIBLE CLAUSE
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1. Increase, reduce or remove
existing protective rates of duty
(including any necessary
change in the classification).
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2. Establish import quota or
ban imports of anycommodity, as may be
necessary.
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3. Impose an additional duty on
all imports not exceeding ten
(10) per cent ad valorem,
whenever necessary.
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The Tariff and Customs Code of the
Philippines (TCCP), in the interest of
national economy, general welfareand/or national security, the
President upon the recommendation
of the National Economic andDevelopment Authority (NEDA), is
empowered to:
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reduce by not more than fifty per centor
to increase by not more than five times the
rates of importduty expressly fixed bystatute (including any necessary change in
classification) when in his judgment such
modification in the rates of import duty is
necessary in the interest ofnational
economy, general welfare and/or national
defense.
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The existing rates may be
increased or decreased to any
level, in one or several stages but
in no case shall the increased rate
of import duty be higher than amaximum of one hundred (100%)
percent ad valorem
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The President shall have no authority to
transfer articles from the duty-free list to
the dutiable list nor from the dutiable list tothe duty-free list of the tariff
("duty-free list" as goods with 0% import
tariff duty rate, this limitation may be seen
to be consistent with the floor and ceiling
rates set in Section 401.)
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Before any recommendation is submitted to
the President by the Council pursuant to the
provisions of this section, the Commissionshall conduct an investigation in the course
of which it shall hold public hearings
wherein interested parties shall be afforded
reasonable opportunity to be present, to
produce evidence and to be heard
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Investigation/consultation/public hearing
Drafting of Executive Order - After thefindings and recommendations of the
Commission shall have been approved by
the NEDA, the Commission drafts the
Executive Order implementing such
recommendations
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Review of the Executive Order (EO)
is undertaken one (1) year after itseffectivity. The objective of the
review is to rationalize the tariff
rates and eliminate any tariff
distortions.
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An interested party may request
for an upward or downward
adjustment of the tariff rates or a
reclassification of the articles
which are subject of the review.
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In accordance with the mandated functions
of the Commission to Executive Order No.
143 dated 21 August 1999 and as approvedin the Executive Committee Meeting of 19
February 2001, the revised procedure
under Section 401 shall be adopted in the
conduct of investigation for all regular
requests for tariff modification.
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Section 402
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For the purpose of expanding foreign
markets for Philippine products as a means
in assisting in the economic development ofthe country, in overcoming domestic
unemployment, in increasing the
purchasing power of the Philippine peso,
and in establishing and maintaining better
relationship between the Philippines and
other countries, the President, upon
investigation by the Commission and
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For the purpose of expanding
foreign markets for
Philippine products as a
means of assisting in the
economic development of thecountry,
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in overcoming domestic
unemployment, in increasing
the purchasing power of the
Philippine peso, and
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in establishing and
maintaining better
relationship between the
Philippines and other
countries
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(1) To enter into trade agreements with
foreign governments or
instrumentalities thereof; and
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(2)To modify import duties (including any
necessary change in classification) and
other import restrictions, as arerequired or appropriate to carry out and
promote foreign trade with other
countries:
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The proclaimed duties and other import
restrictions shall apply to articles the
growth, produce or manufacture of allforeign countries, whether imported
directly or indirectly: Provided, That the
President may suspend the application of
any concession to articles the growth,
produce or manufacture of any country
because of its discriminatory treatment of
Philippine commerce or because of other
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Every trade agreement concluded pursuant
to this section shall be subject to
termination upon due notice to the foreigngovernment concerned at the end of not
more than five years from the date on which
the agreement comes into force and, if not
then terminated, shall be subject to
termination thereafter upon not more than
six months notice
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The authority of the President to enter into
trade agreements under this section shall
terminate on the expiration of five yearsfrom the date of enactment of this Code
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Nothing in this section shall be construed to
give any authority to cancel or reduce in any
manner any of the indebtedness of anyforeign country to the Philippines or any
claim of the Philippines against any foreign
country.
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Before any trade agreement is conducted
with any foreign government or
instrumentality thereof, reasonable publicnotice of the intention to negotiate an
agreement with such a government or
instrumentality shall be given in order that
any interested person may have an
opportunity to present his views to the
Commission