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

February 11, 1994 FIRB RESOLUTION NO. 011-94 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service(1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the subsidy availment previously granted to the Armed Forces of the Philippines Commissary and Exchange Service, pursuant to FIRB Resolution Nos. 17-93 and 32-93, as amended, (Granting subsidy availment to the AFPCES in the amount of P51 million and P40 million only, representing the taxes due on commissary items purchased from local sources only and subsequently sold by its outlets to their intended beneficiaries only, for the year 1993 and bank accounts for the years 1990 and 1991): Provided , That the amount of subsidy to be available to the subject beneficiary shall be limited only to the unutilized portion of the subsidy availment previously granted thereto: and that the availment thereof shall be in accordance with the terms and conditions of Section 15 of the 1994 General Appropriations 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: Provided, further , that the subsidy herein granted shall not apply on taxes and duties due on sales of firearms and ammunitions, and three-or-more wheeled motor vehicles; Provided, furthermore , that all items entitled to the subsidy herein granted shall be sold only to their intended beneficiaries and that any sale thereof to persons other than the intended beneficiaries shall be subject to the taxes and duties due thereon: Provided, finally , 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 tax subsidized by the government. cdt (SGD.) JUANITA D. AMATONG Undersecretary of Finance Presiding Officer FIRB Reference : FIRB Meeting dated February 2, 1994 Amount Renewed P16 . 24 million only