Palace OKs zero tariff on key inputs for construction materials production
MANILA, Philippines — President Ferdinand Marcos Jr. ordered the reduction to zero of the import tariff on minerals used in the manufacturing of construction materials, according to an order uploaded to the Official Gazette on Monday.
According to Executive Order (EO) No. 46, there are no operating mines of natural gypsum and anhydrite in the Philippines, and there is no local substitute for them. Both minerals are the main raw ingredients for the production of plasterboard and cement.
The National Economic and Development Authority (Neda) previously endorsed the reduction in the Most-Favored-Nation (MFN) tariff rate on the said minerals to 0 percent from 3 percent.
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“Upon effectivity of this order, all articles specifically listed in Annex A hereof, which are entered into or withdrawn from warehouses in the Philippines for consumption, shall be levied the MFN rate of duty as prescribed therein,” said the EO.
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Article continues after this advertisement“This order shall take effect 30 days after its complete publication in the official Gazette and shall be in full force and effect for a period of five years from the date of effectivity,” said the EO.
