BOI certification to be imposed as a requirement in the opening of the letter(s) of credit for wire rod imports to qualify for the preferential tariff rate of 3%
BSP CIRCULAR LETTER Series of 1999
TO : All Commercial Banks
Attached, for your reference and guidance, is a copy of the letter dated 26 March 1999 of Mr. Carl John G. Matriano, Director, Basic Industries Department, Board of Investments (BOI), requesting that all commercial banks be advised that the BOI certification shall be imposed as a requirement in the opening of the letter(s) of credit for wire rod imports to qualify for the preferential tariff rate of 3%.
Also attached are the Guidelines Implementing the Provisions of Tariff Subheading Nos. 7213.9100 and 7213.9900 of the Tariff and Customs Code as Amended by Executive Order No. 63, which were approved by the BOI on 01 February 1999.
ALBERTO REYES Deputy Governor
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