Payment of Honoraria

May 19, 1994 FIRB RESOLUTION NO. 021-94 SUBJECT : Payment of Honoraria WHEREAS, the Fiscal Incentives Review Board was created as an inter-agency committee by Presidential Decree No. 776 on August 24, 1975, and amended by Memorandum Order No. 23 on July 15, 1986, and further amended by Executive Order No. 93 on March 10, 1987, for the purpose of implementing a system of tax subsidy provisions to take care of tax and duty liabilities of government corporations, in lieu of tax and duty exemptions, to promote fiscal transparency and fiscal discipline in the government corporate sector; WHEREAS, to carry out the foregoing function in an effective and efficient manner, the FIRB has been structured to be composed of the: (1) Board proper, as the principal decision making authority, comprised of the heads of office of the Department of Finance, as Chairman, and Department of Trade and Industry, Department of Budget and Management, National Economic and Development Authority, Bureau of Internal Revenue, Bureau of Customs and National Tax Research Center, as members; (2) Technical Committee which evaluates and makes recommendations on requests for tax subsidy and acts as custodian of FIRB records and documents, with the NTRC as FIRB Secretariat and the NTRC Director as Head thereof; WHEREAS, pursuant to the terms and conditions of EO No. 67 (Organization and Organizational Adjustment Fund) and later on as implemented by the General Appropriations Act, the members of the Board, Technical Committee and Secretariat are paid nominal monthly honoraria at levels set by then Secretary Guillermo N. Carague of the Department of Budget and Management per DBM Memorandum of April 27, 1987 addressed to then Department of Finance Secretary and FIRB Chairman Jaime V. Ongpin, for services rendered in line with the functional responsibilities of the FIRB, principally for attending the Board and Technical Committee meetings thereof; WHEREAS, in several instances the heads of the member-agencies have designated their respective representatives to the Board and/or Technical Committee meetings; WHEREAS, in view of the participation of said representatives to the Board and/or Technical Committee meetings, it is deemed necessary to change the policy on the payment of the nominal monthly honoraria and make the same based on actual services rendered/attendance to the Board and/or Technical Committee meetings; NOW, THEREFORE, BE IT RESOLVED AS IT IS HEREBY RESOLVED, To adopt the aforecited payment policy effective June 1, 1994. (SGD.) JUANITA D. AMATONG Undersecretary Presiding Officer, FIRB Reference : FIRB Meeting dated May 19, 1994.