Rules, Guidelines and Procedures Implementing the Tax Expenditure Subsidy Section Under the General Provisions of the Annual GAA

January 13, 2011 FIRB RESOLUTION NO. 001-11 SUBJECT MATTER : Rules, Guidelines and Procedures Implementing the Tax Expenditure Subsidy Section Under the General Provisions of the Annual GAA WHEREAS, the Department of Finance and the Department of Budget and Management issued its Joint Circular No. 3-08 dated September 1, 2008 [Rules, Guidelines and Procedures Implementing the Tax Expenditure Subsidy Section Under the General Provisions of the Annual General Appropriations Act (GAA)], pursuant to the last paragraph of Section 14 of Republic Act (RA) No. 9498 or the 2008 GAA; WHEREAS, Section 13 of RA No. 10147 or the 2011 GAA also provides that the implementation of the said Section shall be in accordance with guidelines jointly issued by the DOF and DBM; WHEREAS, the wording of Section 13 of the 2011 GAA is basically the same as that provided under Section 14 of the 2008 GAA and for which reason the grant of tax subsidy in 2011 has been guided by Joint Circular No. 3-08. NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to formally adopt Joint Circular No. 3-08 (Annex A) as the Implementing Guidelines for purposes of implementing the tax subsidy provisions under Section 13 of the 2011 GAA. (SGD.) LAURA B. PASCUA Undersecretary Department of Budget and Management (SGD.) CRISTINO L. PANLILIO Undersecretary Department of Trade and Industry (SGD.) MARGARITA R. SONGCO Deputy Director-General National Economic and Development Authority (SGD.) MARISSA O. CABREROS Assistant Commissioner Bureau of Internal Revenue (SGD.) RAMON G. CUYCO Director Bureau of Customs (SGD.) DANTE V. SY Executive Director National Tax Research Center Head, FIRB Secretariat (SGD.) GIL S. BELTRAN Undersecretary of Finance Presiding Officer-FIRB