7, 2013

NR # 3280

Committee on Ways and Means to prioritize fiscal incentives and customs modernization bills
The leadership of the House Committee on Ways and Means has sought the support of the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) in the passage of the panel’s top priority measures for the ! th Congress namely" the Rationali#ation of $is%al In%entives Bill and the proposed Customs Moderni#ation and Tariff &%t (CMT&)' Rep' Romero (Miro) *uim+o (,nd -istri%t" Mar.ina City)" %ommittee %hairman" sought the BIR and BOC support during a re%ent hearing of the panel /hi%h /as attended +y Internal Revenue Commissioner 0im Henares and Customs Commissioner Ruffy Bia#on /ho presented their respe%tive agen%y’s targets and performan%e outputs' (We hope to get your support for the fis%al in%entives and the %ustoms moderni#ation +ills") said *uim+o' *uim+o said the %ustoms moderni#ation +ill has +een pending for , years /hile the fis%al in%entives +ill for 1 years' (2o I thin. it is time for us to pass them") he said' The %ommittee /ill formally as. for the BIR and BOC positions on the t/o +ills on%e the panel starts hearings on the measures' -uring the 3th Congress" the House of Representatives approved on third and final reading +oth House Bill 4566 or the proposed Customs and Moderni#ation &%t of ,7 " prin%ipally authored +y Rep' Ma8imo Rodrigue#" 9r' (:arty;list" &+ante Mindanao) and HB 41<3 or the proposed Investments and In%entives Code of the :hilippines prin%ipally authored +y Rep' 2usan =ap (,nd -istri%t" Tarla%) on &ugust 3" ,7 and transmitted these measures to the 2enate three days later' In the !th Congress" several +ills to moderni#e %ustoms administration in the %ountry have +een referred to the Committee on Ways and Means among them HBs 3" 7" !!" <46" 4! " 36< and < 75' The CMT& +ills see. to set international standards in %ustoms operations" and ma.e import trade transa%tions faster" predi%ta+le" effi%ient and transparent' They also aim to promote and se%ure international trade" prote%t and enhan%e government revenue" prevent smuggling and other fraud against %ustoms and moderni#e %ustoms and tariff administration' The +ills aim to %omply /ith the Revised 0yoto Convention (Convention on the 2implifi%ation and Harmoni#ation of Customs :ro%edures) of the World Customs Organi#ation to /hi%h the :hilippines is a signatory'

Mean/hile" HBs <7" <7," 566" ,5!3 all see. to rationali#e the grant and administration of fis%al in%entives for the promotion and gro/th of investments' Most of the +ills see. to empo/er the Board of Investments (BOI) to +e responsi+le for industry development" poli%y formulation" investment promotion" and investment fa%ilitation' The BOI shall formulate an Investments :riorities :lan (I::) /hose a%tivities %omply /ith the Medium Term :hilippine -evelopment :lan (MT:-:) and Medium Term :hilippine Investment :lan (MT:I:) and satisfy the follo/ing %onditions> su+stantial amount of investments? %onsidera+le amount of employment? use of modern or ne/ te%hnology? and installation of ade@uate environmental prote%tion systems' Aarlier" Belmonte in pushing for the ena%tment of the fis%al in%entives +ill in the ! Congress said revenue losses due to redundant in%entives %ould +e as high as one per%ent of the %ountry’s gross domesti% produ%t'

&side from the fis%al in%entives measure" others identified as priority +ills in the House this !th Congress are the CMT&? esta+lishment of a national transportation poli%y? the revie/ of the Ale%tri% :o/er Industry Reform &%t? the legislation of the Bational Cand Dse :oli%y? and the amendment of the Eovernment :ro%urement &%t" among others' (<7) rbb

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