Philippine National Police Service Stores System

October 3, 1997 FIRB RESOLUTION NO. 020-97 SUBJECT : Philippine National Police Service Stores System BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to deny the application for subsidy availment of the Philippine National Police Service Stores System in the amount of P5 million only, representing its income tax liability for the year 1996. BE IT FURTHER RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for subsidy availment of the PNPSSS, in the amount of P46 million only, representing the taxes on items purchases and subsequently sold by its outlets to their intended beneficiaries only, for the year 1997, in accordance with the following tax breakdown: Items to be covered by tax subsidy Amount of Subsidy (million P) Ratio to Total (%) 1. VAT (input tax on procurement) 36.00 78.26 2. Excise tax on petroleum products 3.96 8.61 3. Excise tax on alcohol products 1.54 3.35 4. VAT (net tax payable) 4.50 9.78 TOTAL 46.00 100.00 Provided, however , that the subsidy herein granted shall not apply on taxes due on sales of firearms and ammunitions and motor vehicles; Provided, further , 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, furthermore , that the PNPSSS 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 tax subsidized by the government. Provided, finally , that such availment shall be in accordance with the terms and conditions of Section 13 of the 1997 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. (SGD.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB Reference: FIRB Technical Committee Meeting dated September 25, 1997 FIRB Meeting dated October 2, 1997 FIRB Resolution No. Amount 5-97 (renewal) P27.64 million 20-97 (new) 46.00 Total P73.64 million