Cultural Center of the Philippines (CCP) (1)

December 4, 2007 FIRB RESOLUTION NO. 015-07 SUBJECT MATTER : Cultural Center of the Philippines (CCP) (1) WHEREAS, the Cultural Center of the Philippines (CCP) is the premier cultural institution in the country, embodying artistic excellence, committed to the enrichment of life of the Filipino people; aCASEH WHEREAS, the CCP is mandated to nurture, encourage, support, conserve and promote creativity and artistic expression through sustainable quality programs, services and facilities; WHEREAS, in order for the CCP to espouse its mandate and continue to be the country's premier cultural center, it needs to continuously upgrade some of its facilities to further improve its operations; cIaHDA WHEREAS, in line with the CCP's restoration and renovation efforts, it is importing Durkan Commercial Carpets, which are heavy duty carpets with acoustical features designed and made specifically for theaters and are not available in the country, for the replacement of its old and worn out carpets situated in the center's Main Building; WHEREAS, the CCP does not have the financial capacity to assume the taxes and duties arising from the importation of the aforementioned item; aEAIDH WHEREAS, there is also a need to ensure that all importations covered by this tax subsidy grant will be used exclusively by the CCP in pursuing its mandate and not for other purposes; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to grant tax subsidy to the CCP in the amount of P1,010,252.64 only, representing the taxes and duties on its importation of the Durkan Commercial Carpets: Provided, however, that: (1) the tax subsidy granted shall be used solely by the CCP; and (2) materials for which tax subsidy is granted shall form part of the regular inventory of the CCP as certified to by its resident Commission on Audit (COA) auditor: 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. aSIATD (SGD.) GIL S. BELTRAN Undersecretary of Finance Presiding Officer FIRB Reference: Joint FIRB-Technical Committee Meeting dated December 4, 2007.