National Irrigation Administration
FIRB Resolution No. 035-85 • Fiscal Incentives Review Board • Resolutions • May 17, 1985
Full text
May 17, 1985 FIRB RESOLUTION NO. 035-85 SUBJECT : National Irrigation Administration BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That: 1. Effective June 11, 1984, the tax exemption privileges enjoyed by the National Irrigation Administration under R.A. 3601, as amended and withdrawn by P.D. 1931 remain revoked. 2. The tax-and-duty exemption privileges of its internationally-funded importations are however, not affected by P.D. 1931. 3. Its interest income from bank deposits and yield or any other monetary benefit from deposit substitutes, trust funds and other similar arrangements remain subject to the 15% final withholding tax pursuant to P.D. 1959. (SGD.) CESAR E. A. VIRATA Minister of Finance Chairman, FIRB
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