Customs Memorandum Order No: 04-2009

CMO 04-2009

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.D. NO. 1464), AS AMENDED

27 January 2009
CUSTOMS MEMORANDUM ORDER
NO. 4 - 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.D. 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 market".
In its Certification dated January 22, 2009 (copy attached) the Department 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. 1464), as amended, have not been reached for the period January 1-15, 2009.

The average CIF price of Dubai crude and diesel, in the international market were US$47.477 per barrel and $64.928 per barrel, respectively, during the period January 1-15, 2009. 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 February 1, 2009,

This Certification is issued on January 22.2009.

(SGD) ANGELO T. REYES
Secretary"

For your information and implementation.
NAPOLEON L. MORALES
Commissioner