FIRB Resolution No. 008-89

July 6, 1989 FIRB RESOLUTION NO. 008-89 BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the additional subsidy availment of the Central Bank of the Philippines in the amount of P1,464,516 . 00 only , to cover the amount of P755,740 . 00 in customs duties , and P708,776 . 00 in compensating taxes , all of which are due on importations made by it from January, 1987 to December 2, 1988 , only, as described in the accompanying Annex A of subject Resolution: 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 customs duties, compensating taxes and other charges on prospective importation and/or importations outside of subject period January, 1987 to December 2, 1988 shall be paid out of the Bank's own resources. aisadc (SGD.) VICTOR C. MACALINCAG Acting Secretary of Finance Chairman FIRB ANNEX A Details of Items of Importations of the CBP Recommended for Additional Subsidy Availment ITEM Customs Duty Compensating Tax Total Spare parts for the Banknote P12,293 P13,602 P25,895 Printing Machines 655 Kgs. Intaglio Printing Inks 106,861 93,028 199,889 Swarfega needed for banknote 3,489 1,592 5,081 Printing of 1,000 peso banknotes and for faster removal of ink stains on printing equipments, tools and printer's hands Spare parts for the machineries 612,198 587,831 1,200,029 and equipment of the Mint and Gold and Silver Refinery Plant Slip roll metal forming machine 20,899 12,723 33,622 used in the maintenance (fabrication/repair of rolled metal sheets) of various machineries and equipment at Security Plant Total P755,740 P708,776 P1,464,516 ======= ======= ========