Home Development Mutual Fund
FIRB Resolution No. 020-90 • Fiscal Incentives Review Board • Resolutions • Apr 19, 1990
Full text
April 19, 1990 FIRB RESOLUTION NO. 020-90 SUBJECT : Home Development Mutual Fund BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the additional subsidy availment of the Home Development Mutual Fund in the amount of P23,039,289 . 00 only, representing the balance of its income tax liability for the year 1989: 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 HDMF shall take vigorous initiatives in pursuing a program of fiscal discipline that shall consider, among others, a reduction in its operating cost as a proportion of its total collection, and submit to the FIRB the details of action undertaken by it in said regard not later than June 30, 1990. cd (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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