REPUBLIC ACT No. 3005
An Act to Amend Paragraphs 71.02, 71.03 and 71.04 of Chapter 71, Schedule XIV, of Republic Act Numbered Nineteen Hundred Thirty-Seven, Otherwise Known as Tariff and Customs Code of the Philippines, and for Other Purposes
Be it enacted by the Senate and House of Representatives of the Philippine Congress Assembled:
Section 1. Paragraph 71.02 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:
"Precious and semiprecious stones, unworked, cut or otherwise worked, but neither set nor strung (except ungraded stones temporarily strung for convenience of transport):
A. Industrial diamonds ad val. 10%
B. Others ad val. 150%"
Section 2. Paragraph 71.03 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:
"Synthetic or reconstructed precious or semiprecious stones, unworked, cut or otherwise worked, but neither set nor strung (except ungraded stones temporarily strung for convenience of transport):
A. Industrial diamonds ad. val. 10%
B. Others ad val. 100%"
Section 3. Paragraph 71.04 of Chapter 71, Schedule XIV of Republic Act Numbered Nineteen hundred thirty-seven, is hereby amended to read as follows:
"Dust and powder of natural or synthetic precious or semiprecious stones ad val. 10%
Section 4. This Act shall take effect upon its approval.1âшphi1
Approved: June 19, 1960.
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