Armed Forces of the Philippines Commissary and Exchange Service (4)

October 1, 1993 FIRB RESOLUTION NO. 032-93 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service (4) BE IT 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 P40 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 1993: Provided , That the availment thereof shall be in accordance with the terms and conditions of Section 15 of the 1993 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 actor vehicles; Provided , furthermore , that all items entitled to the subsidy herein granted shall be sold only to their intended beneficiaries 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. cdt (SGD.)JUANITA D. AMATONG Undersecretary of Finance Presiding Officer For the Chairman FIRB References : FIRB Technical Committee meeting dated September 23, 1993 FIRB Meeting dated October 1, 1993 FIRB Resolution No. Amount 8-93, as amended by 15-93 P60.379 million 16-93 30.088 17-93 51.000 32-93 40.000 Total P181.467 million =======