Rate of Duty

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Created by
Mikhali Tordecilla

Cards (35)

  • Tariffs

    Taxes levied on goods entering (import tariffs) or exiting (export tariffs) a country
  • Tariffs

    • Imposed to protect domestic producers (protective tariffs)
    • Imposed to raise revenue for the government (revenue tariffs)
  • Types of tariffs
    • Specific tariffs (fixed duty on a good)
    • Ad-valorem tariffs (percentage of the good's value)
    • Compound tariffs (combination of specific and ad valorem)
  • Tariff-rate quota

    A two-tier quota system that combines characteristics of both tariffs and quotas
  • Tariff-rate quota system
    1. Initial quota of good allowed to enter at lower duty rate
    2. Once quota reached, more good can be imported but at higher tariff rate
  • Tariff distortion
    When the level of tariff assigned to a good is not proportionate to the good's degree of processing
  • With tariff liberalization, the tariff gap between types of goods will be negligible to none
  • Export duty

    Tax levied on goods exiting a country
  • Export duties on all export products (except for logs) were abolished under E.O. 26 (s. of 1986)
  • Logs have a 20% export duty
  • MFN (Most-Favored-Nation) tariff

    Non-discrimination principle of the WTO where Members apply equal treatment to all WTO Members
  • Exceptions to MFN treatment
    • Reciprocal preferential tariffs (FTA/EP agreements)
    • Non-reciprocal preferential tariffs (GSP)
  • Column 9 of TAP-AHTN 2017
    Specifies which AMSs and/or goods are eligible for Phil. ATIGA preferential rates
  • Products in Schedule H of ATIGA shall not be subject to import duties reduction or elimination
  • To avail of preferential FTA/EP tariffs

    1. Product must be originating and comply with ROO
    2. Product must be in the inclusion list
    3. Proof of Origin must be provided
  • Reciprocal Tariff Rate Treatment

    Provision in ACFTA and AKFTA that enables a good placed in the Sensitive Track (ST) List of the exporting Partner to have an applied rate lower than the MFN rate of the importing Partner
  • Tariffs

    Taxes levied on goods entering (import tariffs) or exiting (export tariffs) a country
  • Tariffs

    • Imposed to protect domestic producers (protective tariffs)
    • Imposed to raise revenue for the government (revenue tariffs)
  • Types of tariffs
    • Specific tariffs (fixed duty on a good)
    • Ad-valorem tariffs (percentage of the good's value)
    • Compound tariffs (combination of specific and ad valorem)
  • Tariff-rate quota

    A two-tier quota system that combines characteristics of both tariffs and quotas
  • Tariff-rate quota system
    1. Initial quota allowed at lower duty rate
    2. Imports above quota levied higher tariff rate
  • Tariff distortion
    When the level of tariff assigned to a good is not proportionate to the good's degree of processing
  • With tariff liberalization, the tariff gap between types of goods will be negligible to none
  • Export duty

    Tax levied on goods exiting a country
  • Export duties on all export products (except for logs) were abolished under E.O. 26 (s. of 1986)
  • Logs have a 20% export duty
  • MFN tariff

    Most-Favored-Nation tariff applied to imported goods not eligible for preferential tariff treatment
  • MFN treatment
    Non-discrimination principle of the WTO where Members must impose equal treatment to all WTO Members
  • Exceptions to MFN treatment
    • Reciprocal preferential tariffs (FTA/EP agreements)
    • Non-reciprocal preferential tariffs (GSP)
  • Column 9 of TAP-AHTN 2017
    Specifies which AMSs and/or goods are eligible for Phil. ATIGA preferential rates
  • Products in Schedule H of the ATIGA shall not be subject to import duties reduction or elimination
  • To avail of preferential FTA/EP tariffs

    1. Product must originate and comply with ROO
    2. Product must be in the inclusion list
    3. Proof of Origin must be provided
  • Reciprocal Tariff Rate Treatment

    Provision in ACFTA and AKFTA enabling goods in the Sensitive Track list to have a lower applied rate than the MFN rate
  • Special laws granting tariff preference
    • Jewelry Act
    • Automotive Export Program and Natural Gas Vehicle Program for Public Transport
  • Philippine legal enactments on import duty rates
    • MFN rate
    • ATIGA rate
    • AANZFTA rate
    • ACFTA rate
    • AHKFTA rate
    • AIFTA rate
    • AJCEP rate
    • AKFTA rate
    • PH-EFTA rate
    • PJEPA rate