Armed Forces of the Philippines Commissary and Exchange Service

July 6, 1990 FIRB RESOLUTION NO. 038-90 SUBJECT : Armed Forces of the Philippines Commissary and Exchange Service BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to amend FIRB Resolution No. 28-90, previously issued in favor of the Armed Forces of the Philippines Commissary and Exchange Service and the Philippine Constabulary/Integrated National Police Service Stores System, as follows: "BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to endorse to the Department of Budget and Management the subsidy availment of the Armed Forces of the Philippines Commissary and Exchange Service through the Department of National Defense, in the amount of P55 million only , representing taxes and duties on items purchased and subsequently sold by this outlet to its intended beneficiaries only, pursuant to the terms and conditions of Executive Order No. 76, as amended by FIRB Resolution No. 5-87 and FIRB Resolution No. 12-89: 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 for purpose of operationalizing the subsidy availment herein endorsed, the subject outlet in consultation with the Department of Budget and Management, the Bureau of Customs, and the Bureau of Internal Revenue shall devise a mechanism to ensure that such subsidy availment is utilized solely and exclusively for the purpose for which it is intended and to ensure that the benefits arising from such utilization are passed on to the intended beneficiaries of subject outlet in an equitable manner: Provided, Furthermore , That the exemption privileges enjoyed by subject outlet which were restored temporarily by FIRB Resolution No. 5-87, as amended, are hereby withdrawn effective January 1, 1990: Provided, However , That the withdrawal of such exemption privileges shall not apply to all purchases made by subject outlet prior to January 1, 1990 but which arrived and/or were delivered after said date, as indicated in Annex A of this Resolution : Provided, Finally , That the amount of exemption appertaining to such purchases shall be up to the extent of P425,379 . 23 only ." aisadc (SGD.) JESUS P. ESTANISLAO Secretary of Finance Chairman FIRB Reference : FIRB Meeting dated July 5, 1990 ANNEX A DELIVERIES FOR JANUARY & FEBRUARY 1990