Armed Forces of the Philippines Commissary and Exchange Service (2)

July 11, 1996 FIRB RESOLUTION NO. 023-96 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service (2) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to renew the balance of the tax subsidy previously granted in favor of the Armed Forces of the Philippines Commissary and Exchange Service, pursuant to FIRB Resolution No. 22-95 (Granting tax subsidy to the Armed Forces of the Philippines Commissary and Exchange Service in the amount of P173 . 923 million only , representing the taxes on items purchased and subsequently sold by its outlets to their intended beneficiaries, for the year 1995), in the amount of P58 . 25 million only : Provided , that such availment shall be in accordance with the terms and conditions of Section 12 of the 1996 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. BE IT FURTHER RESOLVED, AS IT HEREBY RESOLVED, to deny the application for additional tax subsidy of P21.164 million only to cover the taxes on excess procurement by the AFPCES for the year 1995. (SGD.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB References : FIRB Technical Committee Meeting dated June 26, 1996 FIRB Meeting dated July 10, 1996 Resolution No. Amount 13-96 (original application for 1996) P219.936 million 23-96 (renewal) 58.250 Total P278.186 million ============