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EXECUTIVE ORDERS
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EXECUTIVE ORDER NO. 93 -
WITHDRAWING ALL TAX AND DUTY INCENTIVES, SUBJECT TO CERTAIN EXCEPTIONS,
EXPANDING THE POWERS OF THE FISCAL INCENTIVES REVIEW BOARD AND FOR
OTHER PURPOSES
WHEREAS,
Presidential Decree Nos. 1931 and 1955 issued on June 11, 1984 and
October 14, 1984, respectively, withdrew the tax and duty exemption
privileges, including the preferential tax treatment of government and
private entities with certain exceptions, in order that the
requirements of national economic development, in terms of fiscal and
other resources, may be met more adequately;
WHEREAS, both issuances provided for a review by the Fiscal Incentives
Review Board (FIRB) of petitions initiated by affected entities for
restoration of withdrawn tax and duty exemption privileges either on a
total or partial basis;
WHEREAS, a number of affected entities, government and private were
able to get back their tax and duty exemption privileges through the
review mechanism implemented by the Fiscal Incentives Review Board
(FIRB);
WHEREAS, in addition to those whose tax and duty exemption privileges
were restored by the Fiscal Incentives Review Board (FIRB), a number of
affected entities, government and private, had their tax and duty
exemption privileges restored granted by Presidential action without
benefit of review by the Fiscal Incentives Review Board (FIRB);
WHEREAS, the continued enjoyment of these tax and duty exemption
privileges has resulted in serious tax base erosion and considerable
distortions in the tax treatment of similarly situated entities;
WHEREAS, these privileges have become convenient opportunities for tax
manipulation or avoidance, especially in case of interrelated entities;
WHEREAS, the availability of such privileges makes more difficult the
attainment of the overall program for national economic development,
considering government’s fiscal exigencies;
WHEREAS, private entities whose tax and duty exemption privileges are
to be withdrawn may still remain competitive by improving on their
operational specialty and competence, rather than by relying on fiscal
incentives which create distortions in the overall pricing and market
systems;
WHEREAS, assistance to government and private entities may be better
provided where necessary by explicit subsidy and budgetary support
rather than tax and duty exemption privileges if only to improve the
fiscal monitoring aspects of government operations;
NOW, THEREFORE, I, CORAZON C. AQUINO, President of the Philippines, do
hereby order:
Section 1.
a)
b)
c)
(i)
(ii)
(iii)
d)
e)
(i)
(ii)
(iii)
(iv)
f)
Sec. 2.
a)
b)
c)
d)
e)
Sec. 3.
a)
b)
c)
d)
Sec. 4.
Sec. 5.
Sec. 6.
Done in the City of Manila,
this 17th day of December in the year of Our Lord, nineteen hundred and
eighty-six.
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