FIRB Resolution No. 005-89
FIRB Resolution No. 005-89 • Fiscal Incentives Review Board • Resolutions • Jul 6, 1989
Full text
July 6, 1989 FIRB RESOLUTION NO. 005-89 BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Home Development Mutual Fund in the amount of P247 million only , representing the income tax due therefrom for the year 1988: Provided , That such amount shall be chargeable against the Tax Expenditures Fund, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision Under Executive Order No. 93; Provided, Further , That effective January 1, 1990, any amount for income tax, as well as any taxes and/or duties that may be incurred by the HDMF shall be provided for in its annual budgetary request or paid out of its own internal resources. cdt (SGD.) VICTOR C. MACALINCAG Acting Secretary of Finance Chairman FIRB
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