Chairperson of the FIRB Technical Committee

June 2, 2021 FIRB RESOLUTION NO. 11-21 WHEREAS , Section 297 of the National Internal Revenue Code (NIRC) of 1997, as amended by Republic Act No. 11534, otherwise known as the "Corporate Recovery and Tax Incentives for Enterprises Act" or "CREATE," provides the expanded functions of the Fiscal Incentives Review Board (FIRB); WHEREAS , Section 297 (g) of the NIRC of 1997, as amended by RA 11534, authorizes the FIRB to require Investment Promotion Agencies (IPAs) and other government agencies (OGAs) administering tax incentives to submit, regularly or when requested, summaries of approved investment and incentives granted, and firm or entity-level tax incentives and benefits data as input to the FIRB's review and audit function, and evaluation of performance of recipients of tax incentives; WHEREAS , Section 297 (i) of the NIRC of 1997, as amended by RA 11534, empowers the FIRB to obtain information, summon, examine, inquire, and receive from OGAs administering tax incentives, government-owned or -controlled corporations, government instrumentalities, government commissaries, state universities and colleges, and local government units, documents, records, books, or other data relevant or material to the resolution of issues arising from the approval, disapproval, cancellation, suspension, withdrawal or forfeiture of tax subsidy, or in imposing penalties for violations of the terms and conditions on the availment of tax subsidy, or any provisions of NIRC, as amended; WHEREAS , Section 298 of the NIRC of 1997, as amended by RA 11534, authorizes the FIRB to assign functions that may be performed by its Technical Committee; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED , That the Chairperson of the Technical Committee is authorized to require IPAs and OGAs administering tax incentives to submit, regularly or when requested, summaries of approved investment and incentives granted, and firm or entity-level tax incentives and benefits data, and to obtain information, summon, examine, inquire and receive documents, records, books, or other data relevant or material to the resolution of issues arising from the approval, disapproval, cancellation, suspension, withdrawal or forfeiture of tax subsidy, or in imposing penalties for violations of the terms and conditions on the availment of tax subsidy, or any provisions of the Title XIII of the NIRC of 1997, as amended by RA 11534. Adopted by the Board in its meeting on June 2, 2021 where a quorum was present. aDSIHc (SGD.) CARLOS G. DOMINGUEZ Secretary of Finance Chairperson (SGD.) RAMON M. LOPEZ Secretary of Trade and Industry Co-Chairperson (SGD.) SALVADOR C. MEDIALDEA Executive Secretary (SGD.) WENDEL E. AVISADO Secretary of Budget and Management (SGD.) KARL KENDRICK T. CHUA Socioeconomic Planning Secretary