Armed Forces of the Philippines Commissary and Exchange Service (3)

May 10, 1993 FIRB RESOLUTION NO. 017-93 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service (3) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service in the amount of P51 million only, representing the taxes and duties due on commissary items purchased and subsequently sold by its outlets to their intended beneficiaries only, for the year 1993: Provided, That the availment thereof shall be in accordance with the terms and conditions of Section 15 of the 1993 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 taxed subsidized by the government. aisadc (SGD.) ERNEST LEUNG Acting Secretary of Finance Acting Chairman FIRB References : FIRB Technical Committee meeting dated March 30, 1993 FIRB meeting dated May 3, 1993 FIRB Resolution No. Amount 8-93, as amended by 15-93 P60,379 million 16-93 30,088 17-93 51,000 Total P141.467 million =======