EXECUTIVE ORDER NO. 736 September 26, 1981
ABOLISHING THE AUTHENTICATION REQUIREMENT ON COMMERCIAL INVOICES
WHEREAS, it is the continuing policy of the government to simplify and facilitate the conduct of trade in the country.
WHEREAS, the authentication of commercial invoice in lieu of the Consular Invoice required under Sections 1309 and 1310 of the Tariff and Customs Code of 1978 constitute and inconvenience and a burden to the foreign supplier and domestic importer;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Republic of the Philippines, by virtue of the power vested in me by the Constitution, do hereby order and direct:
1. All importations covered by a Formal Entry having an invoice value of five thousand pesos (P5,000.00) and above shall be subject to a fixed import processing fee of two hundred and fifty pesos (P250.00). This fee shall be paid by the importer/consignee to the authorized agent bank which shall remit the same to the National Treasury. The Central Bank, the Bureau of Customs and the Ministry of Foreign Affairs shall, therefore, revise all existing rules and regulations covering the Consular Invoice and the authentication of commercial invoices accordingly.
2. All proceeds from import processing fee shall be used for trade and export promotion activities of government agencies, such as the Ministry of Foreign Affairs' Committee on Export Promotion, Development and Coordination. For this purpose, the Ministry of the Budget and the Ministry of Foreign Affairs are, therefore, directed to make the appropriate provisions in the annual budget.
This order shall take effect immediately. lawphi1.net
Done in the City of Manila, this 26th day of September, in the year of Our Lord, nineteen hundred and eighty-one.
The Lawphil Project - Arellano Law Foundation
