Philippine National Railways
FIRB Resolution No. 025-90 • Fiscal Incentives Review Board • Resolutions • May 24, 1990
Full text
May 24, 1990 FIRB RESOLUTION NO. 025-90 SUBJECT : Philippine National Railways BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Philippine National Railways in the amount of P23,295,162 . 00 only, representing taxes and duties due on its importations for the year 1989 in connection with its Metro Manila Rail Commuter Maintenance Depot Construction Project: Provided , That such amount shall be chargeable against the 1990 Tax Expenditures Fund, 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 no amount of subsidy availment herein endorsed shall be utilized by the beneficiary-entity in payment of taxes and duties due on motor vehicle importations arising in connection with subject Project. aisadc (SGD.) JESUS P. ESTANISLAO Secretary of Finance Chairman FIRB Reference : FIRB Technical Committee Meeting dated April 27, 1990 FIRB Meeting dated May 23, 1990
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