In view of the global economic downturn that has resulted to a steep decline in container demand, a sudden surge of vessel lay-ups worldwide and a significant slowdown in the movement and repositioning of empty containers in Asia, including the Philippines, the operational provisions of CAO 2-97 subjecting foreign containers to payment of duties, taxes and other charges in the event that their stay exceeds the 150-day dwell-time, is hereby temporarily suspended subject to the following conditions:

1. the suspension shall apply to containers that arrived in January 2009 onwards but not later than December 31, 2009; and

2. the suspension shall only be until December 31, 2009 unless extended further by the

Department of Finance upon meritorious grounds.

This Order shall take effect immediately.
 
Adopted: 26 Oct. 2009

(SGD.) NAPOLEON L. MORALES
Commissioner

APPROVED:

(SGD.) MARGARITO B. TEVES
Secretary of Finance