National Food Authority

March 26, 2015 FIRB RESOLUTION NO. 001-15 SUBJECT MATTER : National Food Authority WHEREAS, the National Food Authority (NFA) is mandated to ensure food security at grains supply in the country and stabilize their prices; WHEREAS, there is a need to stabilize the price and supply of basic food commodities, particularly rice which is the Filipino staple food; WHEREAS, to achieve these objectives, the NFA has resorted in rice importations to augment domestic production, in the process incurring duty obligations thereon to the Bureau of Customs (BOC); WHEREAS, on 9 December 2014, the FIRB approved through Resolution No. 8-14 the tax subsidy request of the NFA amounting to PhP5,017,162,500.00 for its rice importation of 500,000 metric tons (MT) under NFA Resolution No. 738-A-2014-G; WHEREAS, the tax subsidy granted under FIRB Resolution No. 8-14, remained unutilized, because the corresponding Statements of Accounts which are required for the issuance of the Certificate of Entitlement to Subsidy (CES) were issued by the Bureau of Customs (BOC) only on February 24, 2015; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to approve the re-application for tax subsidy of the NFA in the amount of FIVE BILLION SEVENTEEN MILLION ONE HUNDRED SIXTY TWO THOUSAND FIVE HUNDRED PESOS (PhP5,017,162,500.00): Provided , that the initial CES shall be limited to the amount of PhP4,891,157,497.00 only , representing duties due on forty three (43) shipments with billings from the BOC: Provided, further , that the CES shall be issued only upon submission by the NFA to the FIRB of the required billings and/or documents evidencing the importations with a certification from the NFA that the volumes covered by said billings are part of the rice importations authorized by the NFA Council: Provided finally, that such availment shall be in accordance with the terms and conditions of Section 14 of the 2015 General Appropriations Act, subject to the availability of funds therefor, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision under Executive Order No. 93. IcHSCT (SGD.) LAURA B. PASCUA Undersecretary Department of Budget and Management (SGD.) ADRIAN S. CRISTOBAL, JR. Undersecretary Department of Trade and Industry (SGD.) EMMANUEL F. ESGUERRA Deputy Director-General National Economic and Development Authority (SGD.) ESTELA V. SALES Deputy Commissioner Bureau of Internal Revenue (SGD.) ALEXIS F. MEDINA Director Bureau of Customs (SGD.) TRINIDAD A. RODRIGUEZ OIC-Executive Director National Tax Research Center Head, FIRB Secretariat (SGD.) JEREMIAS N. PAUL, JR. Undersecretary of Domestic Finance Group Presiding Officer-FIRB