Philippine Heart Center (PHC) (1)

December 12, 2006 FIRB RESOLUTION NO. 013-06 SUBJECT : Philippine Heart Center (PHC) (1) WHEREAS, the Philippine Heart Center (PHC) provides specialized heart care services to a number of patients, most of whom are classified as indigents; WHEREAS, the operations of the PHC require the replacement of outdated equipment and continuing provisions of supplies and materials, most of which are not locally available or are not available in the quantity and/or quality required, thus prompting the PHC to import said items and in the process incur tax and duty liabilities thereon; WHEREAS, there is also a need to ensure that all importations covered by this tax subsidy grant will be used exclusively by the PHC in its operations and not for other purposes; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to grant tax subsidy to the PHC in the amount of P8,568,915.00 only representing taxes and duties on its 2006 importations of hospital supplies, materials and equipment: Provided however , that (a) the initial issuance of the Certificate of Entitlement to Subsidy (CES) shall be limited to the amount of P3,000,334.00 only , representing taxes and duties due on 30 shipments with billings of the Bureau of Customs (BOC) that arrived from January 16, 2006 to September 11, 2006; and (b) the subsequent CES shall be issued upon the submission by the PHC to the FIRB of required billings and/or documents evidencing the importations: Provided, further , that all hospital supplies, materials and equipment for which tax subsidy is granted shall form part of the regular inventory of the PHC as certified to by the resident Commission on Audit (COA) auditor of the PHC: Provided, finally , that the grant of such tax subsidy shall be in accordance with the terms and conditions of Section 14 of the 2005 General Appropriations Act, as reenacted, subject to the availability of funds therefor, pursuant to the terms and conditions of the Rules and Regulations to Implement the Tax Subsidy Provisions Under Executive Order No. 93. cEHITA (SGD.) MARGARITO B. TEVES Secretary of Finance Chairman-FIRB Reference: Joint FIRB-Technical Committee Meeting dated December 12, 2006