Use of Conventions and Issuing Authority

August 4, 2022 FIRB RESOLUTION NO. 024-22 WHEREAS , Section 297 of the National Internal Revenue Code (NIRC) of 1997, as amended by the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, provides for the expanded functions of the Fiscal Incentives Review Board (FIRB); WHEREAS , to promote a systematic way of coming up with official FIRB issuances and to enhance efficiency in performing the relevant FIRB functions, there is a need to designate the use of conventions for FIRB Circulars, Memoranda, and Guidelines; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED , that the following conventions and the appropriate issuing authority are as follows: Issuance Convention Issuing Authority FIRB Resolution FIRB-R FIRB Members In case of applications for tax subsidy, designated FIRB Technical Committee members per FIRB Resolution 12-21. FIRB Decision FIRB-D FIRB Members, unless delegated to the FIRB Technical Committee. FIRB Administrative Order FIRB-AO Head of FIRB Secretariat, unless delegated to a Deputy Executive Director by the Head of the FIRB Secretariat. FIRB Memorandum Circular FIRB-MC Head of FIRB Secretariat, unless delegated to a Deputy Executive Director by the Head of the FIRB Secretariat. FIRB Legal Opinion FIRB-LO Head of FIRB Secretariat, unless delegated to a Deputy Executive Director for Legal. This Resolution may be signed in any number of counterparts, each of which, when duly executed and sent by facsimile or electronic transmission to the Secretariat, shall be valid and effectual as if executed as an original, but all the counterparts (including those sent by way of facsimile or electronic transmission) shall together constitute one and the same document. IAETDc Adopted by the Board in its meeting on 4 August 2022, where a quorum was present. (SGD.) AMENAH F. PANGANDAMAN Secretary of Budget and Management (SGD.) ARSENIO M. BALISACAN Secretary of National Economic and Development Authority VICTOR D. RODRIGUEZ Executive Secretary (SGD.) ALFREDO E. PASCUAL Co-Chairperson and Secretary of Trade and Industry (SGD.) BENJAMIN E. DIOKNO Chairperson and Secretary of Finance