Applicability of RR No. 1-95 to the Poro Point Special Economic and Freeport Zone

May 18, 2000 BIR RULING NO. 023-00 John Hay Poro Point Development Corporation JPDC Poro Point Office Pennsylvania Avenue Poro Point, San Fernando City 2500 Attention: Mr . Porfirio N . Zablan President Gentlemen : This refers to your letter dated January 24, 2000 requesting for opinion on the applicability of Revenue Regulations No. 1-95, as last amended by Revenue Regulations No. 16-99, to the Poro Point Special Economic and Freeport Zone (PPSEFZ), San Fernando City, La Union, created by virtue of Proclamation No. 216, as amended by Proclamation No. 270, series of 1993. Relative thereto, please be informed that under Section 3 of Proclamation No. 216, the governing body of PPSEFZ shall be the Bases Conversion and Development Authority created pursuant to Section 15 of Republic Act No. 7227, otherwise known as the "Bases Conversion and Development Act of 1992." Furthermore, Section 5 of the same Republic Act provides, among others, that PPSEFZ shall have all the applicable incentives in the Subic Special Economic and Freeport Zone under R.A. 7227. LibLex Revenue Regulations No. 1-95, as last amended by Revenue Regulations No. 16-99, was issued to implement the tax incentive provisions of Section 12(b) and (c) of R.A. No. 7227. Accordingly, the tax incentives provided under Revenue Regulations No. 1-95, as last amended by Revenue Regulations No. 16-99 shall, likewise, apply to PPSEFZ. Very truly yours, (SGD.) DAKILA B. FONACIER Commissioner of Internal Revenue