National Food Authority (4)

December 9, 2008 FIRB RESOLUTION NO. 021-08 SUBJECT MATTER : National Food Authority (4) WHEREAS, the National Food Authority (NFA) still has unsettled duties due on its rice importations for the years 2004 and 2005 in the amount of P566,337,284.00; IaEACT WHEREAS, the tax subsidy is generally granted by the FIRB to offset tax and duty liabilities on a current year basis; WHEREAS, Section 14 of the 2008 General Appropriations Act (GAA), as well as the Joint DOF-DBM Circular to Implement Section 14 of the 2008 GAA do not limit the grant of the 2008 tax subsidy to current year's tax and duty liabilities; WHEREAS, the FIRB pursuant to the June 27, 2007 meeting of its Technical Committee has adopted as a matter of policy and for practical consideration, to limit the grant of the current year's tax subsidy to billings and/or assessments made by the Bureau of Internal Revenue/Bureau of Customs in the current year only; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to deny the application for tax subsidy of the NFA corresponding to the unsettled duties due on its rice importations for the years 2004 and 2005 and which were correspondingly billed to it by the BOC on December 19 and 20, 2007. CHDTEA (SGD.) GIL S. BELTRAN Undersecretary of Finance Presiding Officer FIRB Reference: Joint FIRB-Technical Committee Meeting dated December 9, 2008.