National Food Authority (2)

May 18, 2015 FIRB RESOLUTION NO. 004-15 SUBJECT MATTER : National Food Authority (2) WHEREAS, the National Food Authority (NFA) is mandated to ensure food security and 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 to rice importations to augment domestic production, in the process incurring duty obligations thereon to the Bureau of Customs (BOC); ATICcS WHEREAS, the NFA Council has allocated 500,000 metric tons (MT) of rice importations for the NFA for 2015 per NFA Council Resolution No. 759-2015-A; WHEREAS, payment of its duty obligations would have an adverse impact on NFA's financial position as duties would form part of its operating expenses. NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for tax subsidy of the NFA to cover duties on its regular rice importation of 500,000 MT for 2015 in the amount of THREE BILLION ONE HUNDRED TWELVE MILLION NINE HUNDRED EIGHTY SEVEN THOUSAND FIVE HUNDRED PESOS (PhP3,112,987,500.00) only : Provided, that the Certificate of Entitlement to Subsidy (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 volume covered by said billings is part of the rice importation authorized by the NFA Council for 2015: Provided further , that such availment shall be in accordance with the terms and conditions of Section 14 of RA No. 10651 or 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. (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.) VICTOR PABLO C. TRINIDAD OIC, Legal Service 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