EXECUTIVE ORDER NO. 688 May 9, 1981
ALIGNING THE PHILIPPINE TARIFF NOMENCLATURE AND THE GENERAL RULES OF CLASSIFICATION PROVIDED FOR UNDER SECTIONS 104 AND 203 OF PRESIDENTIAL DECREE NO. 1464 IN ACCORDANCE WITH THE CUSTOMS COOPERATION COUNCIL NOMENCLATURE
Pursuant to the powers vested in me by Section 401 of Presidential Decree No. 1464, as amended, I, FERDINAND E. MARCOS, President of the Philippines, do hereby direct and order:
Sec. 1. The Tariff Commission is hereby ordered to prepare a draft of the Philippine tariff nomenclature provided for under Section 104 of Presidential Decree No. 1464, in accordance with the Customs Cooperation Council Nomenclature, provided that in the transposition of the tariff provisions of Section 104 of said Presidential Decree No. 1464, as amended, the existing tariff rates shall be retained.
Sec. 2. The Commission is also ordered to prepare a draft of the rules of classification provided for under Section 203 of Presidential Decree No. 1464 in accordance with the Customs Cooperation Council Nomenclature.
Sec. 3. The Commission shall submit a revised tariff nomenclature and rules of classification not later than two months from the effectivity of this Order to the National Economic and Development Authority provided that the revised tariff nomenclature and the rules of classification shall become effective thirty (30) days after approval and issuance by the National Economic and Development Authority.
Sec. 4. Subsequent revisions to the Customs Cooperation Council Nomenclature which may be adopted by the Customs Cooperation Council shall be incorporated in the Philippine tariff nomenclature. For this purpose, the Tariff Commission shall within two months upon receipt by the Philippine Government of the official copy of the amended Customs Cooperation Council Nomenclature revision prepare the draft of the pertinent parts of the tariff nomenclature incorporating such revisions which shall become effective thirty (30) days after approval and issuance by the National Economic and Development Authority.
Sec. 5. This Order shall take effect thirty (30) days after its promulgation.
DONE in the City of Manila , this 9th day of May, in the year of Our Lord, nineteen hundred and eighty-one.
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