Philippine Aerospace Development Corporation (1)
FIRB Resolution No. 033-97 • Fiscal Incentives Review Board • Resolutions • Dec 11, 1997
Full text
December 11, 1997 FIRB RESOLUTION NO. 033-97 SUBJECT : Philippine Aerospace Development Corporation (1) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to deny the application of the Philippine Aerospace Development Corporation for tax subsidy to cover the taxes and duties on its importation of one unit of Canguro SF600 aircraft. BE IT FURTHER RESOLVED, AS IT IS HEREBY RESOLVED, to approve the application for subsidy availment of the PADC in the amount of P258,223.00 only , to cover taxes and duties due on its importation of aluminum sheets, angles and steel bars for research and development purposes: Provided: That such availment shall be in accordance with the terms and conditions of Section 13 of the year 1997 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. cHSIAC (SGD.) MA. CECILIA G. SORIANO Undersecretary of Finance Presiding Officer FIRB Reference: FIRB Technical Committee Meeting dated November 28, 1997 FIRB Meeting dated December 11, 1997
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