TARIFF AND CUSTOMS CODE

Tariff includes

1. Custom duties, toll or tribute payable upon merchandise to the general government
2. Rate of customs
3. List of articles liable to duties

Custom duties: it is the name given on the importation and exportation of commodities, the tariff or tax
assessed upon merchandise imported from or exported to a foreign country.

Kinds of tariff and customs duties

1. REGULAR tariff and customs duties: these are taxes, imposed or assessed upon merchandise
from or exported to a foreign country for the purpose of raising revenues
2. SPECIAL tariff and custom duties: these are additional import duties imposed on specific kindsw
of article under certain condition

They are imposed for the protection of consumers and manufacturers, as well as Philippine products
from undue competition posed by foreign made products.

PREFERENTIAL TARIFF / HIGH CUSTOM DUTIES: it is the imposition of high custom duties which results
to making the foreign product or goods more expensive compared with locally produced articles.