Armed Forces of the Philippines Commissary and Exchange Service (1)

May 18, 1995 FIRB RESOLUTION NO. 022-95 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to deny the application for subsidy availment in the amount of P46.114 million of the Armed Forces of the Philippines Commissary and Exchange Service, representing the taxes due on its additional purchases for the last quarter of 1994. BE IT FURTHER RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service, in the amount of P173 . 923 million only , representing the taxes due on commissary items purchased from local sources only and subsequently sold by its outlets to their intended beneficiaries only, for the year 1995, in accordance with the following item breakdown: Items Amount of Subsidy Ratio to Total (million P) (%) 1. Merchandise 140.713 60.90 2. Petroleum 19.900 11.44 3. Beverages 7.140 4.11 4. Alcohol/distilled spirits 4.020 2.31 5. Tobacco products 2.150 1.24 Total 173.923 100.00 ======= ====== Provided , that the availment thereof shall be in accordance with the terms and conditions of Section 12 of the 1995 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: Provided , further , that the subsidy herein granted shall not apply on taxes and duties due on sales of firearms and ammunitions, and three or more wheeled motor vehicles; Provided , furthermore , that all items entitled to the subsidy herein granted shall be sold only to their intended beneficiaries and strictly in accordance with prescribed quota and/or limits thereon, in terms of value and/or quantity; and that any sale thereof to persons other than the intended beneficiaries shall be subject to the taxes and duties due thereon: Provided , finally , that the AFPCES 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 been tax subsidized by the government. (SGD.) JUANITA D. AMATONG Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee Meeting dated May 3, 1995 FIRB Meeting dated May 17, 1995