FIRB Resolution No. 002-89
FIRB Resolution No. 002-89 • Fiscal Incentives Review Board • Resolutions • Feb 8, 1989
Full text
February 8, 1989 FIRB RESOLUTION NO. 002-89 BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Central Bank of the Philippines in the amount of P169,029,162 . 00 , to cover the amount of P109,021,265 . 00 in customs duties ; P60,007,147 . 00 in compensating taxes ; and P750 . 00 in wharfage , all of which are due on importations made by it from January, 1987 to December 2, 1988, only, as described in the accompanying Annex A of subject Resolution: Provided , That such amount shall be chargeable against the Tax Expenditures Fund, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision Under Executive Order No. 93. Provided, Further , That customs duties, compensating taxes, and wharfage on prospective importations and/or importations outside of subject period January, 1987 to December 2, 1988 shall be paid out of the Bank's own resources. (SGD.) VICENTE R. JAYME Secretary of Finance Chairman FIRB
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