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EXECUTIVE ORDER NO. 423 January 2, 1974

MODIFYING THE RATE OF IMPORT DUTY ON CERTAIN IMPORTED ARTICLES AS PROVIDED UNDER REPUBLIC ACT NO. 1937, OTHERWISE KNOWN AS THE TARIFF AND CUSTOMS CODE OF THE PHILIPPINES, AS AMENDED

Pursuant to the powers vested in me by Section 401 of Republic Act No. 1937, as amended, and upon recommendation of the National Economic and Development Authority (NEDA), I, FERDINAND E. MARCOS, President of the Philippines, do hereby direct and order;

Sec. 1. The articles specifically listed hereunder as classified under Section 104 of Republic Act No. 1937 shall pay the following rates of import duty:

Tariff Heading No.	Description of Articles	Rate of Duty
23.04	Oil-cake and other residues (except dregs) resulting from the extraction of vegetable oils:
	A. Soya bean meal, rape-seed meal, sunflower meal, cotton seed meal, peanut meal, and safflower seed meal	ad. val. 10%
	B. Other	ad. val. 100%

Sec. 2. After the expiration of thirty (30) days from the issuance of this Order, all the above-described articles entered or withdrawn from warehouse in the Philippines for consumption shall be subject to the rates of import duty herein prescribed.

Sec. 3. Any unwarranted increase in the prices of local products benefited by these tariff changes may be sufficient ground for the provocation of such tariff changes.

Done in the City of Manila, Philippines, this 2nd day of January, in the year of Our Lord, nineteen hundred and seventy-four.

The Lawphil Project - Arellano Law Foundation

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