North Luzon Railways Corporation (NorthRail) (2)
FIRB Resolution No. 020-08 • Fiscal Incentives Review Board • Resolutions • Dec 9, 2008
Full text
December 9, 2008 FIRB RESOLUTION NO. 020-08 SUBJECT MATTER : North Luzon Railways Corporation (NorthRail) (2) WHEREAS, the North Luzon Railways Corporation (NorthRail) is requesting for a reconsideration of its application for tax subsidy on the documentary stamp tax (DST) and the gross receipts tax (GRT) arising from the Credit Facility Agreement entered into by it and the Barclays Capital Bank, PLC of England; ECDaTI WHEREAS, such taxes are the obligations of the concerned financial institutions and not of the NorthRail; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to deny the request of the NorthRail for a reconsideration of its application for tax subsidy covering the DST and GRT incurred by it from its Credit Facility Agreement with Barclays Capital Bank, PLC of England since these taxes are the liabilities of the concerned financial institutions. (SGD.) GIL S. BELTRAN Undersecretary of Finance Presiding Officer-FIRB Reference: Joint FIRB-Technical Committee Meeting dated December 9, 2008.
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.