FIRB Resolution No. 004-90
FIRB Resolution No. 004-90 • Fiscal Incentives Review Board • Resolutions • Feb 8, 1990
Full text
February 8, 1990 FIRB RESOLUTION NO. 004-90 BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to deny the request of the Metro Manila Transit Corporation for subsidy availment in the amount of P85,311,856 . 00 representing taxes and duties on buses and engines imported under the Bus Installment Purchase Program. BE IT FURTHER RESOLVED, AS IT IS HEREBY RESOLVED, to endorse the conditional release of such buses and engines, without prepayment of taxes and duties: Provided , That the amount of such taxes and duties shall be guaranteed by the corresponding bond; Provided, Further , That the foregoing conditional release shall be subject to such other terms and conditions, as may be imposed thereon by the Bureau of Customs, to ensure collection of the taxes and duties due thereto. (SGD.) JESUS P. ESTANISLAO Secretary of Finance Chairman FIRB
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