Customs Memorandum Order No: 03-2009

CMO 03-2009

EXECUTIVE ORDER NO. 691, TEMPORARILY MODIFYING THE RATES OF IMPORT DUTY ON CRUDE PETROLEUM OILS AND REFINED PETROLEUM PRODUCTS UNDER SECTION 104 OF THE TCCP OF 1978 (P.O. NO. 1464), AS AMENDED

22 January 2009
CUSTOMS MEMORANDUM ORDER
NO. 3 - 2009
SUBJECT:
Executive Order No. 691, Temporarily Modifying the Rates of Import Duty On Crude Petroleum Oils and Refined Petroleum Products Under Section 104 of The TCCP of 1978 (P.O. No. 1464), as amended
Executive Order No. 691, which became effective on 14 January 2008 per CMC No. 22-2008 dated January 28, 2008, provides in Section 3 thereof that ..The MFN rates on crude and refined petroleum products shall be reduced based on certain triggers indexed to oil prices in the world marker'.
In its Certification dated December 16, 2008 (copy attached) the IDepartment of Energy certified that:

"The Department of Energy (DOE) duly certifies that the trigger price levels in the implementation of Executive Order No. 691, Temporarily Modifying the rates of Import Duty on Crude Petroleum Oil and Refined Petroleum Products Under Section 104 of the Tariff and Customs Code of 1978 (Presidential Decree No. 1464J, as amended, have not been reached for the period December 1-15, 2008.

The average CIF price of Dubai crude and diesel, in the intemational market were US$43.73 per barrel and $65.34 per barrel, respectively I during the period December 1-15, 2008. As such, pursuant to Section 4 of Executive Order No. 691, all import entries corresponding to articles listed in Annex "An thereof, filed and received by the Bureau of Customs (BOC), shall be levied 3% rate of duty, effective January 1, 2009.

This certification is issued on December 16, 2008.

(SGD) ANGELO T. REYES
Secretary"

For your information and implementation.
NAPOLEON L. MORALES
Commissioner