Armed Forces of the Philippines Commissary and Exchange Service

May 27, 1996 FIRB RESOLUTION NO. 013-96 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service, in the amount of P219 . 936 million only , representing the taxes on items purchased and subsequently sold by its outlets to their intended beneficiaries only, for the year 1996, including the income tax, as well, in accordance with the following item breakdown: Items Amount of Subsidy Ratio to Total (million P) (%) 1. Merchandise 158.246 71.95 2. Petroleum 30.226 13.74 3. Alcohol/Distilled Spirits 13.524 6.15 4. Tobacco Products 0.750 0.24 5. VAT (Output Tax) 10.812 4.92 6. Income Tax 6.378 3.00 Total 219.936 100.00 ====== ====== Provided, however , that the subsidy herein granted 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 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, 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 tax subsidized by the government. Provided finally , that such availment shall be in accordance with the terms and conditions of Section 12 of the 1996 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. (SGD.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee Meeting dated March 27, 1996 FIRB Meeting dated May 24, 1996