FIRB Resolution No. 004-89

July 6, 1989 FIRB RESOLUTION NO. 004-89 WHEREAS, the appropriation language of the 1989 General Appropriations Act which sets aside the fund requirements for the Tax Expenditures Fund is as follows: "Tax Expenditure Subsidy of Various Government Agencies and Government-Owned and/or-Controlled Corporations pursuant to Section 23 of Presidential Decree No. 1177 (otherwise known as the Budget Reform Decree of 1977) and Executive Order No. 93 (Withdrawing all tax and duty incentives, subject to certain exception, expanding the powers of the FIRB, and for other purposes)"; WHEREAS, said Section 23 of PD No. 1177 provides that the Secretary of Finance and the Secretary of Budget and Management shall establish a procedure as regards subsidy availment thereunder of government entities otherwise exempted by law form taxes/duties; WHEREAS, under the Rules and Regulations to Implement the Subsidy Provisions of EO No. 93, the FIRB is mandated to act on applications for availment of subsidies by government entities qualified therefor; aisadc WHEREAS, there already exists a technical body under the FIRB that evaluates subsidy availment applications and that for purposes of establishing a procedure for effective and efficient evaluation of subsidy availment under PD No. 1177, it would be more advantageous to refer to the technical body earlier referred to; WHEREAS, it is to the greater fiscal interest of the government that subsidy availment under the TEF be coordinated and evaluated by the FIRB; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, that the FIRB shall provide technical assistance to the Secretary of Finance and the Secretary of Budget and Management in aid of their decision-making as regards subsidy availment of government entities covered by PD No. 1177. (SGD.) VICTOR C. MACALINCAG Acting Secretary of Finance Chairman FIRB