Armed Forces of the Philippines Commissary and Exchange Service (1)

May 15, 1997 FIRB RESOLUTION NO. 008-97 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the balance of tax subsidy previously granted in favor of the Armed Forces of the Philippines Commissary and Exchange Service pursuant to FIRB Resolution No. 13-96 (Approving the application for subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service in the amount of P219.939 million, representing the taxes on items purchased for the year 1996) and FIRB Resolution No. 40-96 (Approving the application for subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service, in the amount of P7.235 million, representing the increase in the excise tax liability for the year 1996), Provided , that the subsidy herein renewed shall not apply on taxes due on sales of firearms and ammunitions, and three-or-more wheeled motor vehicles; Provided further , that all items entitled to the subsidy herein renewed shall be sold only to their intended beneficiaries and that any sale thereof to person other than the intended beneficiaries shall be subject to the taxes and duties due thereon; Provided furthermore , that the AFPCES shall cause to be marked on all items entitled to the tax subsidy herein granted, to the extent practicable, a notation to the effect that such items have been subsidized by the government; Provided finally , that such availment shall be in accordance with the terms and conditions of Section 13 of the 1997 General Appropriation Act, subject to the availability of funds therefor, pursuant to the terms and conditions of the Rules and Regulations to Implement the Subsidy Provision under Executive Order No. 93. (SGD.) ANTONIO P. BELICENA Undersecretary of Finance Chairman, FIRB Technical Committee For the Presiding Officer FIRB Reference: FIRB Technical Committee Meetings dated April 28, 1997 FIRB Meeting dated May 15, 1997 Amount Renewed: P158.05 million only .