Local Water Utilities Administration (LWUA)

July 17, 1985 FIRB RESOLUTION NO. 047-85 SUBJECT : Local Water Utilities Administration ( LWUA ) BE IT RESOLVED, AS IT IS HEREBY RESOLVED, That: 1. Effective June 11, 1984 the tax and duty exemption privileges enjoyed by the Local Water Utilities Administration (LWUA) under PD 198 as amended by PD 768 and PD 1249, and withdrawn by PD 1931 are restored up to June 30, 1985. 2. The restoration of the tax and duty exemption privileges does not however apply to the following: a. commercially-funded importations; and b. interest income derived from bank deposits and yield or any other monetary benefit from deposit substitutes and from trust fund and similar arrangements. 3. In the case of importations funded by international financing agreements, the LWUA is hereby required to furnish the FIRB on a periodic basis the particulars of items received or to be received through such arrangements and other information as may be required, for purposes of tax and duty exemption privileges. (SGD.) ALFREDO PIO DE RODA, JR. Acting Minister of Finance Acting Chairman FIRB