Rules, Guidelines and Procedures Implementing the Tax Expenditure Subsidy Section Under the General Provisions of the Annual GAA

March 10, 2010 FIRB RESOLUTION NO. 005-10 SUBJECT MATTER : Rules, Guidelines and Procedures Implementing the Tax Expenditure Subsidy Section Under the General Provisions of the Annual GAA WHEREAS, the Department of Finance and the Department of Budget and Management issued its Joint Circular No. 3-08 dated September 1, 2008 [Rules, Guidelines and Procedures Implementing the Tax Expenditure Subsidy Section Under the General Provisions of the Annual General Appropriations Act (GAA)], pursuant to the last paragraph of Section 14 of Republic Act (RA) No. 9498 or the 2008 GAA; WHEREAS, Section 14 of RA No. 9970 or the 2010 GAA also provides that the implementation of the said Section shall be in accordance with guidelines jointly issued by the DOF and DBM; WHEREAS, the wording of Section 14 of the 2010 GAA is basically the same as that provided under Section 14 of the 2008 GAA and for which reason the grant of tax subsidy in 2010 has been guided by Joint Circular No. 3-08. NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to formally adopt Joint Circular No. 3-08 (Annex A) as the Implementing Guidelines for purposes of implementing the tax subsidy provisions under Section 14 of the 2010 GAA. DSCIEa (SGD.) REYNALDO V. UMALI Deputy Commissioner Bureau of Customs (SGD.) ELMER C. HERNANDEZ Undersecretary Department of Trade and Industry (SGD.) MARGARITA R. SONGCO Deputy Director-General National Economic and Development Authority (SGD.) MARISSA O. CABREROS Assistant Commissioner Bureau of Internal Revenue (SGD.) DANTE V. SY OIC, National Tax Research Center Head, FIRB Secretariat Director Department of Budget and Management GIL S. BELTRAN Undersecretary of Finance Presiding Officer-FIRB