Philippine Aerospace Development Corporation
FIRB Resolution No. 019-90 • Fiscal Incentives Review Board • Resolutions • Apr 19, 1990
Full text
April 19, 1990 FIRB RESOLUTION NO. 019-90 SUBJECT : Philippine Aerospace Development Corporation BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Philippine Aerospace Development Corporation in the amount of P10,697,336 . 00 only, broken down as follows: P6,562,959 . 00 for customs duties and taxes on its importations from January to December, 1989; and P4,134,377 . 00 for value-added taxes for the 1st and 2nd quarters of 1988; Provided , That such amount shall be chargeable against the 1990 Tax Expenditures Fund, 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 PADC shall thereafter settle its liabilities to customs duties and taxes on its importations through its own resources and include the corresponding value-added tax on all sales of goods and/or services made by it. aisadc (SGD.) JESUS P. ESTANISLAO Secretary of Finance Chairman FIRB References : FIRB Technical Committee Meeting dated March 29, 1990 FIRB Meeting dated April 18, 1990
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