Rules, Guidelines, and Procedures in Implementing the Tax Expenditure Subsidy Section under the General Provisions of the Annual GAA

February 4, 2021 FISCAL INCENTIVES REVIEW BOARD RESOLUTION NO. 1-21 SUBJECT MATTER : Rules, Guidelines, and Procedures in Implementing the Tax Expenditure Subsidy Section under the General Provisions of the Annual GAA WHEREAS, the Department of Finance (DOF) and the Department of Budget and Management (DBM) issued Joint Circular No. 002-2020 dated November 26, 2020 [Rules, Guidelines and Procedures in Implementing the Tax Expenditure Subsidy Section under the General Provisions of the Annual General Appropriations Act (GAA)], pursuant to the last paragraph of Section 15 of Republic Act (RA) No. 11465 or the 2020 GAA; WHEREAS, Section 15 of RA 11518 or the 2021 GAA also provides that the implementation of the said Section shall be in accordance with the guidelines jointly issued by the DOF and the DBM; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED, to formally adopt Joint Circular No. 002-2020 (Annex A) as the Implementing Guidelines for purposes of implementing the tax subsidy provisions under Section 15 of the 2021 GAA. (SGD.) LAURA B. PASCUA Undersecretary Department of Budget and Management (SGD.) CEFERINO S. RODOLFO Undersecretary Department of Trade and Industry (SGD.) ROSEMARIE G. EDILLON Undersecretary National Economic and Development Authority (SGD.) MARISSA O. CABREROS Deputy Commissioner Bureau of Internal Revenue (SGD.) REY LEONARDO B. GUERRERO Commissioner Bureau of Customs (SGD.) MARLENE LUCERO-CALUBAG Executive Director National Tax Research Center Head, FIRB Secretariat (SGD.) ANTONETTE C. TIONKO Undersecretary Revenue Operations Group-DOF Presiding Officer-FIRB ANNEX A DOF-DBM Joint Circular No. 002-2020 November 26, 2020