Philippine Heart Center (1)

December 4, 2007 FIRB RESOLUTION NO. 013-07 SUBJECT MATTER : Philippine Heart Center (1) WHEREAS, the Philippine Heart Center (PHC) provides specialized heart care services to a number of patients, most of whom are classified as indigents; THCSEA WHEREAS, the operations of the PHC require the replacement of outdated equipment and continuing provisions of supplies and materials, most of which are not locally available or are not available in the quantity and/or quality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, the PHC does not have the financial capacity to assume the burden of the taxes and duties on its importations of hospital equipment and medical supplies; TEHIaD 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 P16,020,638.00 only representing taxes and duties on its 2007 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 P12,499,895.00 only, representing taxes and duties due on 26 shipments with billings of the Bureau of Customs (BOC) that arrived from January 3, 2007 to September 23, 2007; 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, furthermore, that the PHC shall undertake steps/programs to improve the ratio of its charity patients vis--vis its paying patients and submit the results of such measures/programs to the FIRB on or before June 30, 2008: Provided, finally, that the grant of such tax subsidy shall be in accordance with the terms and conditions of Section 14 of the 2007 General Appropriations Act, 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. TAaEIc (SGD.) GIL S. BELTRAN Undersecretary of Finance Presiding Officer FIRB Reference: Joint FIRB-Technical Committee Meeting dated December 4, 2007.