FIRB Resolution No. 005-85
FIRB Resolution No. 005-85 • Fiscal Incentives Review Board • Resolutions • Jan 21, 1985
Full text
January 21, 1985 FIRB RESOLUTION NO. 005-85 WHEREAS, the Government is interested in maintaining the country's link with foreign lending institutions which facilitate the flow of desired investments into the country. BE IT RESOLVED, AS IT IS HEREBY RESOLVED, that the following tax privileges enjoyed by regional headquarters of multinational companies are hereby restored: (i) Under PD No. 218, as of October 15, 1984 except those pertaining to the tax and duty free importation of motor vehicles: Provided , That motor vehicles which are already loaded on or before October 15, 1984 as indicated in the original bill of lading shall be exempt; and aisadc (ii) Under PD Nos. 1183, as amended relative to travel tax effective January 25, 1985. (SGD.) CESAR E. A. VIRATA Minister of Finance Chairman, FIRB
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