Log inSign up
Republic Act
Approved June 19, 1960

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

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

In plain language

Amends tariff rates for precious and semiprecious stones in Paragraphs 71.02, 71.03, and 71.04 of the Tariff and Customs Code of the Philippines.

  • Paragraph 71.02 now includes industrial diamonds at 10% ad valorem and others at 150% ad valorem.
  • Paragraph 71.03 now includes industrial diamonds at 10% ad valorem and others at 100% ad valorem.
  • Paragraph 71.04 now sets dust and powder of precious or semiprecious stones at 10% ad valorem.
Tariff
Customs Code
Precious stones
Amendment
Republic Act

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.

Approved: June 19, 1960.

For information and research only, and not legal advice. This text may not reflect later amendments. For certified copies, refer to the Official Gazette or the issuing agency.