Prep Seon HOUSE OF REPRESENTATIVES BY RemusncATVEs SLANG Gy, SUNSNG OE), SHLEEOA, 'SOGSORMENRAN Vikarvue, Cou “Gas Gh Sonat (A), Rows, Horus, Robot, UNGAR Mio, Ta AS), Stans WA}, YAP ME), O80.) Vato," Bastar" Suna, UY Numer Aiauunacn, Gutzas, Turks, GRICE, CANIM, ‘rab, Auasones, Ceo, Caokanne, BERENSON Crisco, TawbuwTG, "FAUNAS GLE). seo, (Cousoees, Sicoatan buat, Via Funeeamse “Ina, Diagn Adonai Dy (FALC), Revs, Paes iow, iacson, Asura, Buaog, Nookaas GJ), Bees, (ot), quan, ADM, Coamuoo, Dato, CHAO, ‘AuaseAtATaA, ADDR JALERS, RO, Cargox, Bacartoa.ABRovO, BAUR Bao PowtpgSaaons, So, Malar ALMAND ‘Wasons AUDA, ALVARE (@), Anus, Renee, DILLON, Boutin Cara it) Citaaine, Ook. Det ae Dy GP) caus, DumeTe GANA Pay zncwoa, Suaysdoaner, Penk, SAvEANo, TADURAN, ‘Yar Vy” PADUMG, DUAL,” “Fuaxavoo, FLOR G0 GC), Hr, HeMuERADY, Noosalss GPR), Vssziztstanez Tatiabo Ronin, Pmanoex Neen, Hones, Roweaser AD. PaknstL) SNe Vinuawunva (Wh, Manus, Zasona (WK), ALAND Dourono (), RIMLLA. Sew, SOSvAT Una! AMV Gino, “Twizo, AUMBWTADO, Dy (P), BONG, ZUR Baunoove, Bato, Coast, ANeARA, CUA, Paar, Buster,” Ouse duox, Cowal Litas Scanian” SUARer "(@D). Ty, Dasa, GoNtAGn ‘Nermamab icaso, Oxmmas, Visonia, Ciao, Dat ‘Masoco, Oss. "Panta UY i), SYALMARAEO asaya, VasaasDeioe Sweex, Mancouma, Sim, Auowtm, ‘UIVatH, CASTE, PANCA, AAATONG, JAVIER, Dermsor of), Tees (1), Rowuatno, Tou, HEI Gaewaiay, Barat Sov PoeniNo, Doom” LID, ‘ur, Ponowny, ANSON, USaus (A) A Cast FER Conaaer arr NO. 2 AN ACT AMENDING SECTION 4,528 2.27, 28, 34,4 3.7312 17,204 20 2920-285 286257, 286,28 286 25, 2981391, 30 AND ADDING NEW SICTIONS €4 28-4 2 9 2964, 295286297, 2982998 0, 35,3438 306 307 So 33132 38, 3315, AND 316 ALL UNDER THE NATIONAL” STERNAL” REVENUE CODE OF. "195%, "AS AMENDED, AND FOR OTHER PURPOSES ‘eat by te San and Hote of Resto of he STON 1, Short Tile, — This Act sal be known athe “coreate Toc Tex and Innes Ratinaliation Act” “ermine. ‘6.2, Seton 4 ofthe Natio! ntenal Revenue Cae of 1007, a amended atey fre add rd fm "800A Power ofthe Commision Interpret Tus Laws and © Dre Tox Canes, — ‘Thm power to Seterpe th poisons of this Code and tar ax a ‘hal be uae the excuse and egal uration of 8 Commisoner, subject to review by the Serta of ‘inane! PROVIDED, THAT THE ROWER TO LWTERPRET sr rrovisiows or Torus XII oF raus Cooe saat. ‘HE SeCKETARY OF FINANCE AS CHAIR OP THE FISCAL Incentives Revarw Boa, “The power to decide deputed eseonent, refute wvense tat, fe other charge, ele ino in lain thee, oor matterssonia by th Bes of Ito Raven vost nthe Commoner, abject to the ene SHC. Section 6 of the National otra! Revenue Coe of an anende erty Farther madd ta ead slows "SAC. Pouer ofthe Commissioner to Oban Infomation, and to Summon, Bsaming, ond Tate asimony of Parone, ~ In ascertiing he eect of any recur, or mabing wetur when Bone has {or any interzal revenan tax oi electing any otc Coins in unin “wae “xxx “© xxx “D) xxslendl -) axalhano ©) 0 cAse THE mNronuAmON OF RECORDS Imconruere, Tue Commisionen on THE DULY ‘CONCERNED: PROVIDND, ‘THAT INFORMATION. OR National Internal venue Coe of 1987, faows TmoucH PERSONAL SERVICE, DUT WF NOT "BOOKS, miconns,akD DOCUMENTS SUBMTERZD seaded, reed ae "SE.6A. SeRVO® oF Lernee oF AUTHOR, Axo ASSES NOTICES SUD RY PO BREA — ‘Tu Nomce To THE TAKPAYER MERE ROUIRAD MAY ‘BE SERVED BY THE CoMDNSIOWER OR THR DULY‘AcconDANCE WH THE RULES OF CoURE:” Suc 5, Section 20 ofthe National Ineroal Rens Ca of ss amended abet further amended to ea allows: "Su, 20. Submision of Report ond Prine Information bythe Comminionr. = “wee 0) Sumaseav oF Paxatzaren IevonsArTO¥ {Tm CowNIssIONeR SHALL, UPON THE nuQUEST OF sue SECRETARY OF FACE sPRCMTCALLY Justieariow oR SUCH REQUEST, FURNISH THE -PaovibeD, HOWEVER, THAT THE SECRETARY AND THE ‘or Seem 2 “lo (©) Ripon o Oeriht Commit ~The Comminsioer shal, with rleeacet Secon 204 of ‘his Cod, subst othe Oversight Canine refered ei Section 290 bere through the [Chairmen] the Senate nd Hous of Representatives, 2 eer en he exerci a ipower puceust to the wi ec, sey six () monte clndar your” 06.6. Stim 2 ofthe Nation Internal Revene Cae of ode, arty farther anand ood allo: "BEC 22 _Dfnitns — nex wom “wae 1 ee D) ase “) Theterm nonresident cise’ meen: 0) A.stiaes othe Philippines who tales tothe antiaton ofthe Comino he fat fis) Pysal pesnee abroad with a deft inten to a) A chien ofthe Philipines who Maes the Pippin driog thn tatable year eid abroad iter ap an emigrant of fr employment on @ ‘manent ase “G) A cin ofthe Pilipines who works and Acie incame fom abroed and who saplyment eretreguices [i te] BEING phytaly present ‘shrond [ost of the cine] POR OME HUNDRED [IORTY-THREE (88) DAYS OR MORE during te A stn who hasten proves se wonident tien and who sven in che Philipines at sy See daring he tanabe year to ese permarety i the Philipines shall onic be ‘sete a ooorndat tian or the aca yer fi ‘rhc he arses] OF ARRIVAL in te Phiippiae with espa to This income derived fom suse shred ot the dt of] aval he Pallas“() The taxpayer all submit proat te the Commissioner to show [hie] ntation of ang the Pippin oid permanant abroad orto turn ‘st reside inthe Philipines a th eve may be fr ‘00.7, Sten 27a the Natosl ternal Revenue Cae of se amended ebaroby farther tended oe allows: °800.27. Rater of Ince Tax on Donte Corps — 8) I Goma. — Rasp a there provid 4 the Code, fen income tax of tity ow para 4s] Ncoue nx are OF MeTY MERCH 0%) 1 haeby Spon upon th tne incre deed rng each table year fom all warns within ad tout he Philppon by every corporation, a dened {Secon 221) of thn Col a tebe under thin ‘ile ae coporaton organized i, exiting der he lms ofthe Pibprines: Proud, That ective nnn 1, 209, zata fa ta sal be hy pmcoot (08)] ProviDeD, Tuxr mE sare oF uncaet 9%) BRoINNING JANUARY 1, 2020; [TWENTYSGHT PERCENT (4%) AKGINNING JANUARY 1, 2021; TWEWTESEVEN PERCENT (278) BEGINNING Sovcasy 1, 2088 mney mrxCEST HN) (434) BEONOING JANUARY 1, 2094) swENTEOUR PERCEYT (1%) mBGDNING JANUARY 1, 205; ‘wnere-rumeE PERCENT (29%) BEGHOMNG JANCARY 1, 2026, TwEVTEAWO PERCENT 2%) meOII nvuasy 1, 2027; sweNreoxE PenceNr (21%) ‘INNING JANUARY 1,202; AND WHY PERCENT (@0%) seonoase JaswaRY 1, 2898 ‘PrownrD, ‘SAL We SURIFET 10 REVIEW HY Tu SkeRETARY OF [mance nv 2828: Proven, FumrM=RMORE, THAT ‘ecomnsxnation oF te SkeneeARY OF Fixe: Devore BupcxT CooRDIATION ConMITTEE YMscaL PROGRAM: PROVIDED, FINALLY, THAT THE PRESIDEN MAY ADVANCE TH SCREDLLRD REDUCTION [TH ComPoRATE INCOME AX RATE WHEW ADEQUATE "scab INCENTIVES UNDER TITLE XI OF TH CODE, AS cHRTHFED HY THE SCRETARY OP FINANCE. “Inthe ce of coporacons adopting the ‘clear acnuning pero, th tanale coe hall ‘compute witht ened the apc date when ‘oc sales, porches apd lhe sanacons oi. ‘Tot invme al expense fr Ue acl yea shal beoid have bees cared and epat equally ach ment oth pid “The copoat nae arate al apie he mount computed by muliphing the number of ty the abl into the cone or he pero, vied the rowed, free, That the Preset, pn the eommendaton of the Secrtary of Fane, may, fete Janay I 00, low corporation the option 10 be tue a Steen perce! (5M) of got ince eon avin ter the owing conditions have bee a) A tx et ai tment prent ON) of roe tional Product (GNP) 2) A cao of ty percet (0) of nome tax 9) A VAT sax eff four pera (8) sf GP sod ‘hull be avaible only to fms whose ratio of cost of alot rs salen rcpt rom al nue oes at ned ye porcee 68), “The cto fhe oar tx opin bythe corporation dhl revocable thre (9) emsecte ‘rable ears during which tu copa equaled nde the bene, For purpots of this Seto, the term ‘om income die fom ines shall be equal rot es ns alas ara, sunt nd allowanee td con of ne ld, Cnt ede shal inte ‘i bias expente mty Scared to produce the -erchandin to bing then oir preset ston and "Fora trading of marchanding concern en of ode sold sal iacade the ice cot ofthe ede si, pln import dace, lah in transporting the ods to th pics wha the gad are actully ald lauding asa while he onde rein anal for » manuacuring corn, ‘ost of eds eansactared and sa! ball acide all cot of Production of Sniked onde, ch md, dct ahr od manufacturing overben, fight ‘ost, surance promi and other te ncured to eng the raw material to the coy or wash “Ho theca of tapers engaged inthe ale of seri, "ome acre ann rere le le stu llonanon an dcsata] 0) Popritary Ebuoatonal Institutions ond Hosp seal “Pred, Tat if the grat Socom from sented trade, Busnes o ter aty exes ity pect (0%) ofthe tal eros nome driv by sch suena iusttons or howpitale fom all wu he tax preset in Suction (A) href shall be‘epee te enti taxable nme. For puro of bur sty” means any tude, busines oF ther ety, the conduct of which is ot oubtentially relied to the oxerclee ot performance by sh 5 asian cr bowel of 2 pray est purpose or function, A ropitry educate nina by private Siu groupe wath 28 Ieoued permit 10 operate tom the Department af Bieatonl, Cobre and Sperte ECS), or the Commission on Higher Hduenon (CHED), othe ‘Technical Edson ad Sila Development Asthorty (TESDA), asthe cae may Be, i scrdance wih ‘xing ae andra ©) Goeramentnna or Contd Corporations Agencia oF Inrumentlie ~The provisos of siting special o oneal lame t9 the sory twitstanding, all comoratons, ageing a fnnrumentatie owed or contollad bythe Gonrament, expt th Gore Sri Inara Stes (GSI the Sac Sounty Set (5S), Hom Devauonsan MUrUAL FoND, the Piipine Health Insurance Corration (PHI), abd the Iba water int shal pay auc te ft won the tanabe corporations or asatins engaged io ¢ sae Dust, nds o sty “D ex “woe S08 Secon ofthe Neal Internal Havense Cade of se amended arty Farther mended tea a fle: “S62 tes of Incime Tax on Parvin Corporations ~ (8) Taxon Resident reign Corporations. — “(In General. ~ Expt ebuewiso povided { tis Cote, « epuration ewan, authorized, er tinge I fay frig etry, ogee ‘ tae or busca within the Philipines, shall bo ect 0 ab income tax quralant to [ity ve pers (5%) TNNTY PERCH (ON) ofthe tzale ‘nce derived in the preceding taxable yer fom all sours within. the Phiippinee: [Povided, That fective Snr 1 2008, he rate of acme tax shal te thet pest OW] Prove, THAT THE RATE axcest (2%) OINNING JANUARY 1, 2026 [WENTIRIGHT PERCENT 26%) BEGINING JANUARY 1, 20a, rwawreseven paar (27%) aBoneN JwARY 1, 208% sWERTYSEE PERCENT. @%) GINNING JANUARY 1,208; rWENTE-VE PERCENT (@0%) neon JANEARY 1, 2024) HENTEROUR Penceer (us) mone JANUARY 1, 2025; [DRENTI-TEE PERCENT (23%) BEGHEMING JANUAR 4, anae, memireawo mancenr (228) mEGDANC SIwuaKY 1, 2027) THRONE. PERCENT (21%) ROINNING JANEARE 1, 2028; AD IWENTYPHKCENT(20%) eciNE JANUARY 1, 208% PRomneD, SHALL ne SURRCE TO REVIEW nr Tu SECRETARY OF [INMcE 1% 2025: PRovieD, FURrERMORE, THAT BE SUSPENDED SY THE PRESIDENT UPOH Devavorneet Buncer Coomomariow Commtrres YScAL PROGRAM: PROVIDED, FINALLY, THAT Tae ‘PRESIDENT MAY ADYANCR TE SCHEDULED REDUCTION 1 Te conPonara CODE TAX RATE WHEN ADEQUATE "ScAL INCENMVES UNDER Trt XU oF Tas Coon, AS CERTIFIED BY TEE SECRETARY OF FINANCE. “In thn cae of operations aopting the face year accounting peri, the tabi come abl! be ‘computed witaut sepa 12 8 apc date when sale, purchase and other transactions aor. Tae income an expen fr tho fal year hal be deemed to have ben eamed and pnt equally foreach month fhe paid "The apart ni ax re sl be apie on ‘the amount camped by malting the sunber of ‘month covered by the naw rae within the Seal yar ty the abi ine of he erpartion fr ba pri lee by tne Wrvided, ower, That a resident frien erortin shal! be grand hopin ob tna at Sen peat (SH) on rom inome unde the same condos, roid Seton 274] “exer “xx “Te Ofstore Banking Unite ~ Te provisions of ny low to the contrary notwithtandng, insane Aerie by efter basking unite suthorad by the Bangla Seceal ne Pinus (BSP, tom frien aking ete lcal commercial banks, seduding anaes gn baka hat ay be authori he Bango Sentral ng Pipins (BSP to raat busisee th ofthe hahing unite all be expt fm all faze eacpt nt ice fom sch transactions ae may be specied bythe Secretary of Pane, upon recommendation of he Mostar Bord which sal Be subject the regular inume tax payable by banks Priel, Hower, That any Intaest ncn dried from eign carey Inne granted sedans eter han ore banking unite o rl commer banks, Joculiog lc braachns of frig ban at may be cliatoce basking ite, eal subject oly wo fla ‘tara he aa f ta psec (108)“Any ccone of pocedents, whether india anking unit shal be exam rom ico tax] [1 (9 Taxon Branch Pfs Remitance — Any pit rite by «beach tad fe bal be mbjc oat of Seen porn (5) which ball ‘based onthe otal pros applied or earmark fr eaitunc without any deduct or Ue tx component thereat [lerept thne activites which ase segitared ‘vith he Piippine Bom Zone Astor] 3% WO] () Regional or Area Headquarters and Regional Operating Meadquarters of Mulnaional Componien ") Regional or eee bradquarir 0 fined in ‘Secuon 22DD) shall tbe ube ina a. ") Repoal operating Beadquarters as deed in Steen 2208) sal aya tax of peo 10N) hoe enable secomel + PROVIDED, Tax APTER rw UGIONAL OPERATING NEADQUAKTIRS SHALL mE 1] 6 Tax on Certain ncames Raed by Resins Foreign Corporation. — (a) Inrs fom Depo ond Ved anyother Monetory Benet fom Depot Subttte, Trat Pande ond Similar Arongoments ond Rays, — tart from any currency be depot and eld any ter smeneary bene tom depst ube and toa Sevred tom sources within the Pipi sal be abject to Saal inci tak ot the me of twenty aro 20%) of sch nt: Provided, weer That Intereat pene derived by ¢ resident frien cororatin fm a dpoiry hak under the expanded foi ereney dopo apt shall be abet 10 & Saline tax at the ate of [eve and oneal acest (7%) FIFTEEN PERCENT (16%) of sch "o)thome Drive under the Expand Forge Currency Depot Sytem, — 28 Capital Gane fom Sal of Share of Stack Not Trad inh Stok change, ~ Alot a the scale posted elon] OP FTE PERCENT (15%) ary smgoed upon the et capital ins rain’ rng he taxable yn om the a Bars, exchange rer dgsiion of share of stock in « domestic corpratin sncpt shares ald or dlapned of tzough he tock encane: psetorerP100000 os “Oo any asout in oxen 7100.00.15] (a) nterorprate Divine. — x2 “@) Toxin Nonreident rin Corporation. = 1) I Goera ~ Beep en otherwise provided {in he Cad, forign orporton nt engaged i ae busines inthe Pippin sal pay 4 ex eg Teese peat (3) TRY PIBCENT GON) ofees (he ern sce rsd during ech asl yo on ft ouras itl the Philos, such a tre vided, cnt, ryan salar prema (rot caren prem stilt or ther ‘ae crdeterioabe annul, pera caus gi, profits and ine, and cpt gin, exept capital nn sabes to tax ander subparagraph 66: rove, That five January 1, 2000, the rte af Income tox shall be hry erent G.] Prove, “Tuar Tue Rene oF cORFORATE INCOME TAX SHALL BE ‘DWESY-XIME PENCE (29%) BEODOONG JANUARY 1, ean; TwmNTratGNT ANCE? (28%) REGINGON SIqMUARY 1, 202%; TWENTEGEVEN PERCE C2) MpCINMING JANUARY 1, 2023; sWeNTESEE 26%) mnome Suey 1, 2028, ENF YOUN rencET (24%) BEGINING JANUARY 1, 2925, {WENTY-TIREE PERCENT (23%) BEGIHNING JANUARY 1, m2 Twmr-rwo prnceNT (22%) neon Javan 1, 208%; sWENTEONE PRneENT 9) SECOHNING JANUARY 1, 2026, 2x9 TWEE PERCENT (20%) wEGIWNING JANUARY 1, 2080: Proven, SHALL BE SUBJECT TO REVIEW BY THE SHCRETARY ‘Tux THE ScHEDULKD ecRKASK IN THR RAT UCOMMENDATION OF THE SEORETARY OF FLANGE Deviionusyt BUDGET COORDINATION Conor scat raocRaw: PRovDED, rinauey, THAT Ta Tm coRPoRATE INCOME AX RATE WHEN ADEQUATE (OF M8CAL woxNIVEs UNDER Tere XIIL oF 8 Cook As ceRTHIED BY TER SECRETARY OF FRANCE. “@) Nonresident Cinematographic Pile Our, Last or Distributor. ~ A dowmatoerap hic la owoee laser, of irate shall pay a tax of enetyve percent (256) ofa grove ico rm al ure within be Phi “a xe “ay ae 1) Tox on Cetain Inomes Reed by @ Noeident Rereige Carporation. — “) Incr on Foreign Looe, — 2x “@) Inurorporoe Disderde. = A Beal wcboiing ar at he cate of Sen pore (18) it ‘ry ipod on be elf ash ante roe sede rie on dome corpora, which sal be alte ad pid a provided in Sein STA) fis Cote, bjt the edo hat th cane in ‘hc so nonresident frig eororton ie domiciled. shall aw a crit agit the tax due hmm thesreident reign coparation tases deem o have teen paid sn the Phonon eguvaent © [oenty person! QO)] HITEEN PERCENT (BN), which represents the direce twee the rou inoe tax [othe percent 5H] an the Sen perwent (00%). tax om avidonda as provided Sn thie ‘sbparseraph[ + Prosi, That [ticeve January 2000] eevEcrve JANUARY 1, 2020, the ered apit eax de shal equivalent town pent (158), rich repmseta the AtrnseBetmen the rpuar focome tax RATE [thirty erent GO) and the Sinem pert (15) a on diene: "© Capital Gas fom Sa of Shae of Stock no Traded inthe Stack Eachange.~ A Ep tx a the sate posited lon] OF IFTEEN PERCENT (159) herby imponed upon the met capital gui ralind uring the nal yur om the barter exchange ot ober disposition of shares of soak in a domentc corpora, exept shares wld or dponed of through the lok hang “Nat ovr 7100.00, ” “On any amount in ase of P109000.. 105)" ‘te,9, Section 9 ft Nein Inara! Reva Ca of mend ihre fuer S34. Deduction from Gree Income. — sing fom pesos! sero rendered under a sloyeemolyes rlaeship where no dedutions ‘hal be alowed under thi Section, in computing anale ince sao to income tax unde Sections 24h) 2518; 26 27), and Cad PAN, thre ‘all be awed te filewing deductions to rot 5A) Bxpones, ~ “€) Ordinary and Nowusary Trad, Business or Profeina genes. “0 Inert "0) Ie Gea. -"The amount of nara paid oe iocursed within a tarable year o indeed in conection with th taxpne?® protein, cade oF Serome: Prue, howeer, That the taxpeye’® cthmevise Allowable adtion for inters expen sll ‘wdc by Frye pra (428) TRTY-HREE amon 9) ofthe nar some eject Sa ax [Provied, Tat ottoe Sonsary 1, 208, he orontage shall be shinee pert (5)] Peovinss, Fumie, THAT THE FOLLOWING {COM TAX KATE AS PHOVIDRD IN SHCTIONS 270A) ‘4x0 26K) 1s anos: SC) UF sue mare 8 TERTMON PeaCENT (29%), THR IRTEREST PENSE REDUCTION RATE 1S ‘TURTY ONE FERCENE 1);(©) te ve nave os rwenreatonr Puxcent (25%, THE WEEREST ERPEAGE REDUCTION RATE 1S ‘wnt PERCENT (2% (C) Me THE RATE 1 TWENTESEVEN PuRCENT (27%), THE eREST EXPENSE REDUCTION RATE 1S ‘ree. PERCENT 26) (©) termenare srwenreon rexcenr (26%), "THESTY-THREE PHACENT ky te rum nave 18 TWaNTSTVE PERCENT (25%), Tm wean HRPENSE REDUCTION RATE 1S [TWENTY PERCENT (29%, (© tr vu nares rwexr-soun pence 2449, 1H TEREST FRPENSE REDUCTION RATE 18 SITES PERCENT (16%); “G) IF re nate 8 sWENTYcuREE PERCH (23%), TE TEREST SPBSSE REDUCTION RATE 18 ‘MRTEEN PacHNT (345 (Qtr or mares rwmvrsrwo paxeene @2%), Te orumasY PENSE REDUCTION RAE IS ise Fences 0 "(Tae RATE 1S TWENTEONE PERCH 21%), TH TEREST HAPENSE REDUCTION RATE 1S ve rancest (Ue tun mace 18 1weNTY PERCHNT (20%), PERCENT (0. “Provinen, roatiy, THAT W THE HeTeREST orm Cowussioxen “wae “oun ©) Tous —ane “O) Lowe — 2x "05 Bad Db, ~ 228 “B) Depreciation. — xx “@) plain of it ond Gos Wille nd Mn. — a, Charitable and Oter Conrbutins. ~ 24% 4). Remarch and Deeopment. = 23% "O)Posion Due. ~ 24% 0) AdsitnatRoquiement for Debuctiiy of Cerin Payments 223 "Q) Opsimal Standard Dotcom (OSD). ~ In leu ofthe deductions alowed under the preeing Subic am avd! subj ox under Seton 124 ster than sonetdest alien, (my slest 2 standard deduction in an amount oot exeeing Sry percent (40%) oie ees eles o rae eng a8 the ‘Teape 4x0 INDUSTRY AND aubec to tax ender ‘Secions 270) and 2A, i] may elect» standardAnducion nan amount ot enoeling Sty percent (40%) ft gre ina a deed in Secon 32 fie Code, Unio the tapare signi in [hs] THE tax retura [s] THE intacon let the options! standard deduction, bu) THE TAXPAYER shall be conse a aving eval [himself] fhe dadutone Slowed i th preceding Subsectine, Sash latin shen sade in the rte all be ieeoeble er the taxable year ir which the eur in mde: Pied, ‘hat ap nual who ie ened t and clad for be epona andar dedtion sl nt he egied to bet with fh] TE tax return euch fin lotenent otbrwine sequind under thin Cote: rovided, further, That georal profesion partnership sod the partoers comprising ch artserehip may val of the optional standard edrton oly one, eter bythe geerlprfesasa partserehip or the partors comprising the partcerehip] Provided, Yay] FURIE, That exept ‘hen the Commissions otherwise permit, the ad ‘did sal ney oc reco pertaining to Di [Po ele oF eon recipe, or the ai cron all ep such seca pertsniog to Pe THR roe lorome an dene in Section 32 ofthis Cle ding he arable yor, a6 may be mogued by the rl and regulon prmulgned by the Sertary of Fates, ‘pon coment of the Commins. “Nowitetanting the provisions of he preceding Subrectins, the Secvtary of Finan, upon rwteatndston ofthe Onmmimicer, te « yoie aring aba bam teen Bld fr thin puron, smay probe by rule and routs, lintatinne or eling he any oft Kemized dedusons under Subscins (A) t0()othie Seeon: Prove, That fe purpossaf determining rch ing nitions, the Secretary of Finance shall comider the Slowing facet: (1) aun oft prsered limits on the seca eapendtane raguromen of etch paraar Indutey: and @) fits of Slaton om expentre levee Poidd, rte, Tat 20 coins sal ree "impo om a of expen aledy subject 5 ceding unter preset aw” ‘Se. 10. Ses 4(C)) af th National Inara Ravens Cote of 1907, ax amended ie heehy farther amended to eed 80040. Diwmination of Amount ond esouiton of Gano ase “wy axe “max “(0 Hschangeof Property. ~ “wae 2) eon. — No nin or los shal be [RBORGAYEEATION AND EXCHANGES PROPERTY [in roams of «plan of [erser or conti]) Acorn, which a part aeree ot cootdasnn, eachangee property soll tock ina corporat, which Ia a party tthe mere oF onsdaseso 0) TA. sourealder exchanges stock in 8 corporat, which ia party to the merge or ‘onstdason, ey the tock fate erortion sho yaey tthe merger ar conan: oe] THE ACQUIION BY ONE CORPORATION, HY EXCHANGE ‘covrRoL oF THE ACQUIRING CORFORATION, OF STOCK ‘or SUCH ACQUIRING CORFORATION RAD CONTHOL, BOUEDATELY BEFORE THE ACQUISITION, “e) [snort ade of corporation which ie ery to the meres or contain, exhine Bit secures s2 euch copartin, sy for sock oF ‘secure a anther copra, party tthe merge = omatin) TUE ACQUTION IY OME “() AnecapraLmaon: o8 A uxrconronarion. ‘Me gain or oe shal alan be recognised if ‘ropenty i tana os eoparation by «peso in ‘exchange for ack of unt of participation in euch © ‘omoration of which as arent of euch exchange sid ermn, ane ortopter wots ot exndig far © parca, [gin cata af sid portion] AX, sal nthe considered a ied in earn Property. “tu non oF SHCTION 60 OF 1s CODE “SALE Of EXCHANGES OF PROPERTY USED rom ‘tax vanSeo.11, Sc 60 ot Nain fnteraal Revenue Code of ded, barby farther mended ea flows "SEC, 0. [Alain of Icome and Deduction = nthe case of to or mare argurizaton, tees ot ‘usnee (ober ono copa and whee oe ot argued in th Pipes) owned or contol ice of indy by the mi Sata, te Commissioner i uterine to tbe, appoton ot slate ince or deductions bine or eng sch onanation, trade or bunny, iB atria ‘hat ech dssiution, apportionment or wleatinn is ecnary n oder to prevent evasion of ate deaiy to eet tho inom of eny seh organization ade er Avrnonrry of me Comassionse 70 Disrasvre, Arronrion, ALLOCATE, 4ND TuPUTE Incows Axo Depucrions 70 Diseecan> 4x0 CCourenicr Tex Avorance AneaNGrMANTS. — 18 {Ast OF TWO (2) OF MORE ORGANIZATIONS, TRADES [OMECTLY OY TE SAME TEREST, THE ComassioxeR 8 AUYHORIND 0. ISTHE, [ORCANIATINS, TRADES. OR USINESHS, —1F IN CGH WHERE THE TRANSACTION Om sal on EeoNout Eevee, SUcu AS) DmEECT2Y INCOME TAG (9 DURECTLY OR INDIRECTLY RELIEVING rue INcowE Tx; Om (DIRECTLY om HoMRECTLY ARRANGHNIENT IN A WAY THE CONDUSSIONNN ES ‘we. 12, Seton 78 fhe Nail Iiaroa Revenue Cole of mended ie brey anda to ea allows! “se, 73, Distribution of Dien or Assets by “A) Definition of Dividends, ~The term trends when aed in thin Te means any bon made by a corain tits shareholdersout of ita earings or pats and parable to ite shareholders, when in money inthe property [Weer «corporation dintbte loft ast In complete uation cr dnolton, the gan rend tana ince or dete on, the cam maybe] "@) Stock Disdend. =A stack asidend preening the teaser of out capital acount aot be aubet to tex. However, caportion| ‘ie ann sich maine wt ne the dbo nd canalation ar sedmptin, whole oo par, essocllyoguvalent te the dation of «table den, the amount so daebuted in redemption or ‘tilition ofthe eck shal be considered a taxable income t the entant that psn a datrbton of “(©) Liquiparne Drnpaxs. ~ Liquinsrne WON) Dividends Diaibuee are Doomed Made from Mist Recent Acsumalated Profit. hay lneibason made ton ahaeholr rnmbers of corporation sal be deemed cave bon mad ome » ‘mot rectly assed pre o ear and shall [Oo] Net come of a Prneaip Deemed Consructiey Resco by Porar, — "Te txabe Income declared by a prtertip fr stable year ‘whch eee 5 ax undo Section TN) othe Coe, Mer deducing the caporte tome tex imposed ‘theca, shall be deemed to ve teen ataly or constracoly rnd by the prin in the se fasable year end aball be tou heh inti {odidual expects, whether actully dotted or ‘50.1. Sectin 121) and 1120 fhe Nationa Intro oven Cole 187, amended, erty feter amended 2 td as flows "Sec 12 Rye for Taf pt To, — “) Zoo ad or Rftinky Zao Sa — ‘Any VATrogiterd pen, haut ale ate errata or efecivly sated may, within to (2) nar fer te dane af ha taal quarter whe the sales nee made, apply [eb uae of tx edit ciate sofa feel input tax deo paid sunbutableto sch sls eet tan ag ox. othe exten tha ch ipa ta gine ouput ex: Prue, Ann Tht i he ce taza sle under Seton 12K, and 0) and] Sete 108 (5K) and @, 2 septaJoven cueney exchange prods there had. bets uty ecouated fr ia acadance wich the males and opulions of the Banghe Sent ng Papin (SP: Provided, farther, That where the tamayer is nen in snorted etc serrated eae ond bon tzableo exept sla of pada o properties ‘nit eco be dell and eae atta to any fone of the transactions, It hall bellowed properontly on the bse of the volume of ela Proided, nally, Tht fra perme making ales tat ae ansaid under Soto 1088, te nga aes shall be allocated stably betwen is serosatd and sear sce ae, “) Cancion of VAT Regiattion, — rtieneat frm op sation of sinus, oF to hangs ina cnetion statu nde Section 10610) of this Code may, within two @) sears fom the dae of mation, apy [ee iruance of = tae eit in payment of ia other itornal revenue tnt] A ‘ke. 14, Section 117 of he National Inieral Revenue Cae of 188%, a amend herby Ferber amended to ead allows: SECT. Pranagy Tas om Domus Caves ond Roper of Gorges. ~ Car fr rent rie ves by the lene; tungortatn contractor, Seng ber domestic crsers by land for the tramtport of pamengera, (cept OWNERS OF OPERATORS OF ‘ICHCLES OFFEATING NOT WORE THAN THO (2) ts, owaer of bares and ewners of nimal-daw ‘wo while eis), and Ieper of garages hall pay 2 tax quent to thre prent (ON) of equates S815. Stoon 204 of the Naina Intra! Reverse of 1007, a amended hereby amended to ed allows: "SHC. 208 Authority of the Commiooner © Compromise, Abate and Refund or Crit Tams. ~ The A) Compromise the payment of any intr a) Areaonsble doubt ato te vali ofthe “@) The Soancia) position of the tenner eons ae nabiby pay he assed ta ballb uj tthe fll misinum esas For cams of fiance capacity, 4 minimum, comprosian rte agua tn pres (108) of the “Por older e108 ¢ nisin compromise rate plot to ty prsat (OM) of the base assed “Were bai ta noe erred 0] TEN ian pen [,000.000)](P1,00,000) ar wherehe mtlement offre a nn than the proved ‘nina rata, the compromise sal be subject tthe oprval of the Brabation Board which shall be compote ofthe Comminint an fut ( Depaty Commoners v.16, Seton 2220 the Navona! Intrea Revenue Coe 197, a amended haroby amended trata owe: “Sec 222, Exton 0 Period of Litton of Assam ond Cation of Tse. = 0) If tafe the expiration of che tine rer in Seton 29 forthe asnmen fhe a, [beth the Commissioner snd] the taspayer fhave agreed) Arps worn THE ConmnSSIONEN in wing [tot YOR sees utr nh tine, te ae ey ‘be anes within the pid fered won) SPECEMED Te arptscaTon wien seat NOT EXCEEDS) [MONTHS AF ANTONE TEE. The FORDCOING pra [0 sgeed pon] may be extended by obioqunt writen Iver] APPLICATION ade tae the expiration peri previouly [agreed pon] APPLIED FOR ‘$00.17, Section 237 ofthe National Intra Ravonoe Code €1907,a and, chara rt amet rnd ae owe “BHC. BST. amonce of Reps or Slee or Commarea asi, = A) tnvonce xx Within oe yours rm the abt of hin ‘Act and upon the establishment of» ysem capable of storing end prossing tho required date, the Barons ball ei tespagesengngd inthe expat of nds fd servos taxpayers engugnd in taxpayers andre jreition af the LazgeTaspyers Servint tue AMD TRANSIT electron reniptsot sie or commercial invies [in ie of manal recite ale comers invie] THROUGH DESIGNATED SYSTEM ACCARDITED BYTE BREA, ej olen snd ruins toe ue bythe Secretary of Finan spon recommendation ofthe Commiionr (and er FOLLOWING A ube arn hal hve bon] eld ‘or 2a purpose: Provided, That tanpayora aot covered by the mandate f thie provision may ine electronic roils or, eles or coma avo, tn ew of ‘maou resp, and aes and commer noice J Comassionen, Tm BUREAU au nQUIRE A ‘seem0x.‘Ok CONDEERCAL VOICES. Tus MAY INCLUD TE AUTHORITY AS ACCREDITED BY THE BURAY OF "A DESIGNATED KLECTRONIC CHANNEL HAL, oRRAG We AN ARIITY TO. RECENE Ta “AW APPROVED Tx TRAKGACTION SENRER SAL eer 70 THe UMQUE ASSINED SERVICE NUMBERS “The oii of ube ‘aru to the archi, cate oct a the time the transection i fica wh, ogni bates rin the esr a profession shall ep and preserve ‘the same in hi plc f usa pri of thre) years fom Ue doe of he tale yer in whieh sch rssit we ied, wile the dpa shall De tet and prev By the aa, on i lao snes, fr ihe paid: Pride, Tati cane of leazonie rig or tle comer inv, the gal records of the same [sal bo Rape by eh same por above std) mRAmINa TEE APPROVED “The Comminioner may, i= mentors cst, zompt any preon je oneal evnue tx fem complianc with the proviso this Seton” ‘9.18, Sestinn 297: of the Naina Intra Revenue (Code of 197, as amend is baey send ora a lows Su. 257-A. lecroni Sle Reporting Se. Within fee 6) gear fom the tlt of thie Act snd open the artablamont of «pte capele of ring and promsing the requed dat, the Bares all require taxpayers engaged ie the expert of ols and servis, AND TARPATERS ANOAGED COMMERCE ad exper under the jurtion of the Lange Taxpayers Serve to (leroy prt Ahsie ele data tothe Borers hugh the ue of leeoesic point of lee optea] USE A SYSTEM 1 THE SraNDAKD PORT MERUIRED aut to ree snd rasta tb ed bythe Secretary of Fiance se mommmendad by the Commiasioer of Interal Revenue: Provided, That the PONT OF SALE machines ‘ALUE-ABDRD WESWORK TERMINALS ial vos, ad focal esery devs HTH CAPACHTY TO MARE SUCH ‘TANGMISSION all be at the expeawe of he toxpayers + PROvDeD, roRruER THAT SUB:KCT 0SSeouetaKY OF NANCE, THE COMMEESTONER MAT ‘oqumRs ANY TAXPAYER TO COMPLY WITH THE ‘rovasions oF me SEeTION 1 YEAR ON () 70 TEAK FOUR (4) OF TE Carorr oF 41% OF TH PURCHASE VALUE, N= OF {TUE BUREAU AND SUED AN ELECTRONIC TAX {EPORTING SYSTEM, "THE BUREAU OF INTERNAL, To TEN PERCENT (10%) OF THE BLECTRONCALLY "HRPATER MAY BE HY TH COMOSSIONEE WET ‘TUE AprRovaL ov ux SECRETARY OF FINANCE. “BUECTRONICALLY TRACEABLE PAIMENTS REFER Tm BUREAU AY LintwiSe ReTARLH A ‘shall cmply withthe provisions of Republic Act No 10173, eberwie knw athe ‘Data Piacy Ac and Section 270 of the NIRC, as amended, on walewfl wugenos of eapeyerintrmatin nd ich other las eltng th conden of formation “The Baro shall ale establish pais, sok smonageneatapproahes ston, tunings end aches te pita the ear envisement, guration, and data compliance wih Republic At No, 10175 rhe ‘yberrne Prevention Act 201." R019, Seon 256 af the Navona! Internal Hoven ended, hereby send om allows "Se, 28, Paleo le Rtn, Supply Correct and Accurate Information, Pay Tax, Witold ond ont Tax and Befand Exe Tasts Witold on Compensation, ~ Any prion eqired nde hie Code by res andrpuatins promulgated thewune pay any ar, th a tre hee ay record, o auply comet abd cert information, wh willy fa pay auch ts, he uch rear, haep toch nd poly such cormt and cca nematon, oF either et os wih or fan acne aes by law or rales and relations shall. in ation to thar penalties provided by lam, soon convenof 199, as amended heray amended oe » terete panied by Sw of nt lee than [Ten ose peso (P1GG00]] OME MUNDMED THOUSAND P2305 (P100Q00) BUT NoF MORE THAN ONE MELION ‘TWO HUNDRED THOUSAND ESOS (P1300,00) end eater imprscment of at ese Un ne () year but ot moe tha tn (0) 980 "Any person who atmpts to make i appear for ‘any rene thar he] TM TAKPAPERo another has So foc eda retura of statement, oF aetally Blo a ‘eturs or statement and eubaqueny wits the rowing sal or sap of eng i trl revere cle wherein the eae was acai le conviction ter, be pushed by 8 ne af not lee han en thoumand pene (P1000) but nt mee tha Sk wp ‘Twenty thousand pos (P29.000]] ONE. HUNDRED ‘THOUSAND PESOS (P10.000) BUT NOT MORE THAN ‘owe sauiz0s Two mUNDRED THOUSAND. PESOS (1.20000) sod foter] imprint of ost las ‘han one (1 yar Bt toe han he (9 var” ‘Ske.20. Section 888 of the Natio Internal Revenue Code "SHC, 26, Penal Liblty of Corporations — ‘Any corporation, ean opener c-preanrhip liable fray af th act anions peal der this Coe, in adton tthe penal pnd here oe emplopce eal, upon conviction fr each ac or inion, be ponihed by fie of soto han [Pity housed peor P5000) but not mar than One Dundee shousand pes (102,000), TWO UNDEAD ‘rowan FEs0s (P2000) UT OT Mow THAN ‘Two MILLION YOUR MGNDRED THOUSAND FEEOS 2.400000." Sec. 21, Section 257 of the National Ineral Ravn Cie 07, ws amended whereby tte t ed as fiows: "38C. 281, Pool Liability for Making Pale trig, Rasrd Rapa or Using Pleifed o Fobe “() Any financial fScur or independent Corie Pabie Accountant engaged (0 examine ond sult tonke of seounte of txpayens under Section {21200 and any pen under ie eto wh: a) Wily fais any porto states easing on any oxeminatin or sit, ar render « port, ining hit, statements, schedules or thar forme of acuntacy work which hae not been sid by him pray or under ib supervision or ya member of hi im by sb of ia tal in szoranc with ound auditing pacino ") Corie Sania statrents of «burns verse otaning an eae mssatament of fate = aminion in repect of th transaction, arable nome, eduction und enepton ee ent: or 7) Any pram whe: 0) No big 4 ndependent Ceri Pubic Accatant scoring to Scinn 2828) oa Saunafcr, examines and ie toks of anovante of “€) Osees to sien and catty Sram statements mitout ato 0) ers any targa the we of enue Iwokaeng rnd fr internal revenue purpotes ot So conbrmity with the requirements prescribed in thi (Code or ree wd regulations prmlgated thereander to owwingty mes any fle entey or etre ny feo tous min 2 Boks of sunt oe omen in the prcdig parrot “() Reape or one mts of uch esr or ") Inany wey commit oat of omison, in oasonafthe provision ofthe Seton or "O) Palla keep the tks of acount et Eel or Spain, or to make a tru and complete teal argued in Section 294 of this Code, or hoe books of acute or iors Rept a nave langungs, Knish ot Spanish, apd found wo be at nae wine wh sks a ead hat by hi in seth ange 1) Wily stots a any mans to evade er feat any tex imped under this Cade, oF wwingy ues fake or fied revenue oficial rcp Les of Anthony, seats uthorine rerton, Tax Credit Corieates, Tar Debit Maar and ther asinuntabe form sl. open coovition ech at oF eaion be punibel by # Sn at ata Pity haan pone P50,00 but nt mor than ow hard thse pss 100.00) ‘Tuna WoNDRED HOUSAND PESOS (P30n«00) BOT or Mone Tuas ONE MILLION 1W0 HUNDRED sowsan w¥s06 200000) and [ou] Swonsnann of ot Has tantwo (2) ears Dut ot nore than i (ya “U the oener i « CartifedPable Asoastnt (bs) me criss [ae] OP REIN + Cortina Poe Accountant bal be automa revue o cand “In the came of frigers, ection dr thie (de eal rar his] THEI eed depron after serving wniene, whoa fuer prcedings fr Aepertaion” 80,22, Scion B68 of he Nase Intel Revenue ede beaby ane rad a owe ou, 258. Unlaufl Part of Busines. — Any peionw cari o any busines or which an snl retrain fe smpoed witht paying the tax rue by law sal. upon covistion ach ct 0 mien, Be panied by 9 of mot lea han Fie ‘ousand poe (P4000) but ot mare chin Twenty hoasand pose (P20.000)) ForTY THOUEAND PESOS (30000) wor Nor HORE THAN THREE HUNDRED otemousax PESOS (7300000) and [out] Amprinecen of ot la than six (B) month Bat ot swore than wo eas: Proud That in the caso ‘enon engaged ithe boas of tiling, ein pecking pounding of manufacturing any arte sj tenia, be shall pon eatin foreach set ominton, be punished by # Se of mat lee than {miety hoard pesos 730,00) bat nat more than ily thosand pene (P5000) THREE toma ‘THOUSAND ESOS (P30,000) UT NOT HORE THAN ‘Sevex MUNORED THOUSAND PESOS (P700,000) and [est] imprisament of ot ne then tm) yar but ot more than our (0) years” S828, Section 261 of ew Nation Intra Raven Cade of 1907, a ameniad, is hereby amended o read as ellows "SHC. 261, Unloufl Uae of Denatured Ash. ~ ‘Any person who forth puro of manufturing any vera, ao denatured alba or alsa specially Aenean o be usd fr aie per or witha der bond for industrial uae or ake! knowingly ‘eta or who knonoay el o oie fr ale any ‘eee made lao i par om ech il ‘medical preparation (akon internally, o knowin sels offs forsale such preparations contin a& 5 ingreieat such lesb sball pon emitin ‘ac tet oF omission bo punished by Be of ot os an [Twaty outed pee P2000) but nt mere an One hundred hound pes 100,000], ON sa.40% PvE HUNDRED THOUSAND FESOS (P150,00) for Nor one THAW FIFTEEN LION E08 (15,000.00) and [eter imprisonment fr «rm of Ie tha (6) yar and ob (1) day bt ot mere an noe (1D ge “Any pereo who shall unewfaly reer ot stamp to sever by Aliases er alber proces say enna aleskl or who browingly sls o lies fe tile conceals otherise dpotes of akool so cod or riled shall te subject to the same penlee nponed unde thi Section” 40.24, Section 269 of ha Nasional Intaaal Hoven ‘€ 1907 an amended iherey amended ord allows "Su, 268. Unlawfil osession or Removal of Arties Subj o Eciee Tax witout Bement of Tex ~ Any pera who cs andr bs fund in pons fora aen aubttere ta,he ‘ax on which has not ton pai in acorn with em or any pana wh ow andor ound in possenion of impotent aia ter than hoe to wha they ae nals sal be punished by “ware waae vores vaase4) A FIN OF Nor LES THAN ONE MILLION PVE HUNDRED THOLAIKD PESOS (P1s00.000) HUT NOT MoRE TaUN FITEEN sLLION PESOS (P15,000900), ‘A DuPeisssuenr OF NOF LESS THAN 0 () YEARS ‘s0 OME (1) AY HUT NOT MORE THAN TWELER (12) 1 THE aOR PRESCRIBED IN THR CUSTOMS [MoorayazaTon AND TARIPPACr, INCLUDING DUTIES smuLo% P8505 (P5000,000) BUT NOT MORE THAN Furr i108 8505 (25,000,000, (8) FN OF NOT LESS THAN PTERN uELION Pesos (P15,000000) BUT NOT MORE THAN Fiery saLL10% Pesos (P5,00,00), ax IMPRISONMENT OF NOP LESS TA TWELEE (8) YEARS AND OME (1) DAY oT NOT MORE THAN TENTY GO) YEARS, 1 THE pnascnineo 1x mix Coston MODERNIZATION AX (50000000) or Nor MORE TAX TWO HUNDRED au1103 PSs (P2400, 00008 (0) A MINE OP NOT LESS THAN Furry sLLION 280s (P50,00,00) AND IMPRISONMENT OF =WENTY (20) YEARS AND OXF (1) DAY BUT NOT MORE THAN ‘HURT (0) ARS, 1 THE APPRAISED VALLE OF THE ‘Moosuyt2aTIO AND TARIP Act NCLUDING DOTS (P2000, 000) on rms AocToATE AMOUNT OF THE ‘roms, KXCEEDS “TWO HUNDRED MILLION PESOS F300, 000,000), ‘6.95. Sesion 64 ofthe Naina Internal Revenue Cae £1987, ns amended herby amend to read alows “$0,864, alu or Reale Rast or ‘Sake or Commercial Invi, Vations Related othe Printing of awh Rope or Invaew ond Other ie) Aay perma ho, bine squned nde ovis, fi oe refines to iarue sich seis Invi, inn eit o ini that domi ealy own therein. or ute mule or double reaps oF be panied by « ie a tls dan [One housed sia (1,400 bt at mn ha Pty and pas (@s0000)} ONE woNoneD THOUSAND rASOS (100000) wr Nor mone THAN HVE HUNDRED ‘mmovsixo Pesos (P800000) and (oter] Smprisnmant of oat lot than [wo @ yarn Bat aot‘more than ur (O year] FOUR ( YEARS HUT NOT one rma aT vas “(Any perce who somite any ofthe act ‘numerated boner shale penaled with «Se of tee than Fv hundred tana pes (00.000) ‘ot more than Te milion peor (100,00), sd Smpricament of tae thn (yar butt re han ten (0) 98 ") Protig of respt ot sles ot commer losis witha authority fron the Bure of Its “2 Peeing of double or mul ets nies “O) Printing of unnumbered rit o len ot commer inion, nt oaring the name, bans ye, Taxpayer estieation Number, and business Pring of ter fades rips ele SRC. 25. Section 266 of the Nation Inter Revene Cade of 1997, 8 amended hereby amended to vd a8 flows perso who, big duly summoned fo appa oto Ft appent nd produe beaks of seonats, rer semocenda or cher papers, o 9 funish information gaat appro to prods such ks of nat, Indorsoa, shal, upon onion, be punished by # the National Inter Ravens Ceo 157, fallow oe fot bas than [Fine hound pace 5,00] ‘Ose wowoaso mOUEAND PESOS (P1000) but not ree than [Tea thousand yee (P0000) Tama [HUNDRED THOUSAND PESOS (300.00) and [ete] ‘imprisonment of testa ne (yer bu ot more han tno yur” Sec 27. Section 275 ofthe Nations otra avenan Cole 1997, ae amended, arab amended a flows: “$06,275, lation of Other Pisin of thie Code or Rules ad Ragulations i Geer. — Ay ‘ron ho vate any provision of thie Cole or any ‘ale or roan promulgated by the Deparinent of nates, fr whch specie pesly se provid by law, sal, upon eto fo ath ao emi, be aia by 2 ae of aot more than [Ooe toast pesos (P1000) THN THOUEAKD ESOS (P1000) or outhr] imprest of not more than [ee (6 senha] THO () YEARS or bth” ‘tc. 28, Anew onion hey sre afer Section 282 mended, trad at ‘is Cope AMOUNTING 70 KeoNaMIC SABOTAGE. =° SHALL CONSTITUTE RCONOMIC SABOTAGE, AND, UPON (50000900) sx Dermsoroaner oF 1WELVE (2) ‘TEARS AND OSE (1) DAY BUF NOF MORE HAN TWENTY (any rears” 05.2%, Stton 290 he Navona Interoal Reo Cae of 1907, at amended ary amended tread a oe: “S0c. 290. Conrassional Onriht Commie, — “A Congresios! Oveeht Commitan, nae rfred 0 af the Commit, is barhy consituted in seondan with the provisions of ‘ie Cole. Th Commitee shall Ye compoud of ‘he [Chairoen] CHAIRPERSONS ofthe Commit on Ways and Mauna of the Senate and House of “Tha Commit shal, ang oar, na of epi: “a eee 13) an: onal “o eeslk ‘keviow oan; 80 “EVALUATE: ‘THE EFFECTIVENESS: OF “THE AD THE FORMULATION OF THE. Sreareatc ‘86.80, A om Tie XU shal be inetd in he Naina orn. xI “enarren | eee. 281, Score ayo Cove. — Tus ‘Tne SHALL CoM ALL mSHING.INvESTAROT Tue wvRSTMEN PHOMOMION ACRES SHALL “cue. 208, Exteyr oF Avmuonry 10 Geax fsonsciss wait, axcOMMEND TO. THR FISCAL Incenrives Review BosnD tH TAX INCRNEEES mowers om ACTIVITIES vxDHR Te StHATHCIC IvisIMeWE PRIORHTY PLAN. THE PERIOD OF“Urcess ormeewise PRoviDED IN Ts CODE, ame “) Carma Equant merens 0 AcHTOENY, EQUIP, MAOR COMPONENTS “8) Exronr SaLss oF Gooos wxven ro 7m seourre> TO THE Pumureoes, reo mE “ay Tmesauz ano across: PRON THE PRILIPPINES TOA PORRIGN COUNTRY BY ") SALES 70 PLONE BESSIONS AND (a) Sains oF ax meronr ENraRPRIse 70 48 “q) Senvces weNOEaKD TO NONAESIANT (8) Senvices mpERED TO Down “@) SERVICES FOR THR OVEREALL, REPAIR, “D) bvesrusyr Proworon AcevcEs mara ‘aanae oF PROWOTNG INVESTMENTS, ADMINISTERING NOWTAK INCENTIVES, AND OVERSEEING THE fasrecrive CHARTERS, THEA INCLUDE THE oAkD OF IWVESTMRNTS, REGIONAL BoaRD OF Tivestaenrs AuToNOMOES REGION IN MUSLIM Mowoao, PRLIPMNE BeoNoMe ZoNe AUTHORITY, [RASS CONVERSION AND DIVRLOPMENE AUTHORITY, Sune Bay Merzovoures AUTHORITY, CLAn Deveuorwr —Conronarios, Jou HAY ‘Masacmer ConPORATION, CAGAYAN BcONOMICs ‘ome AUTHORITY, Zaamwoanck Cry SPECIAL eowouc Zone AVONTY, PuIDEC IspUSTEI ‘AUrOREY, AURORA PACIRE ECONOMIC ZONE AND Preerorr AUronry, AUTUORIY OF THK FREEPORT ereRrnise Zose AVTUORTY, AND ALL oTUE “© Orun — Govennwerr —Aczwexes AvwantsrinNo FiscaL Incevrmss eee TO “Worse Reciereney NTIS REvER 0 CORPORATION, PHILIPPINE BRANCH OF A. FORLIN ‘AXDOR ORGANIZED AND YRIETING UNDE "G) REGISTERED RNTERPRIE REFERS 10 ANY PRIUPrIN Laws aN RECITHRED WHT aX [uric ACT No, 19706, ox Tue Tax InceNTIvEs DMaxscanaser ano TRANseaREnce ACT ITA), Cnenrr UNIONS, CONSULTANCY. sERVICRS, METAL sarvices, A MAY BE DBTERMINED. BY THE Isvesrwnet PRowomox DENCY BonKD, ‘ovrsne THE oN, DULY ACCREDITED Om LICENSED [NATIONAL ISTERNAL REVENUE CODE OF 1997, AS “ab Speers Reowoue ZoxE on Bco20NE [REVERS TO A SELECTED AREA, WHICH SHALL a Sy PRESIDENTIAL, PROCLAMATIONS AND WETUDN § srrcine GHOGRAPHICAL AREA: PROVIDND, ‘THAT(ALL OF THE FOLLOWING: INDUSTRIAL ESTATES {NPORT MROCESSING ZONES, INFORMATION AND ‘ConIUNIATIONG TRCHNOLOGY PARAS AND CENTERS, SUALL NOT BE DECLARED AS AN ECOZONE: PROVIDED, ‘ror, as VERTICAL ECONOMIC ZONES, SUCH AS, Ur Nor BED FO, BUILDINGS, SELECTED FLOORS _NcHNTIVES REVIEW BOARD. “Q) Passmore ZoXE RErERS 70 AN s0LATED PRORTHETED IY LA, WEFHIN, WTO, AXD HXPORTED ‘T90S 4ND UME: PROVIDED, THAT YOR THE FHRRPORT TO QUALITY AS A SEPARATE. CUSTOMS % onarren ‘tax ano Dory Incrrs “Se. 2m Iceemss.~ -RearEnED rnosucrs on ACTNINIES UNDER THR STRATEOIC Invests PRORITY PLAN SEALL BE QUALIFIED 70 INCOME TAK INCENTIVES AND ENLANCED DEDUCTIONS, ssuayns “Cy tncoue Taxtncexves -€) tneowe Tax Horney ~ “) NATIONAL CaRTAL REGION — UF 70 ese) vena; “ie) Anzas ADAceNT TO METRO MANILA “couoss9 oP LAG, BULACAN, Care, AND RIZAL ‘pro TOUR 0 vEARS, “(e) ALL ORMER AREAS WoT COVERED. BY SURPARAGRAPES (2) 480 (8) ~ UPTO SO 6) YEARS: ‘Promen, Tust Arex THR FEPERATION OF THE ‘moow TAK RATE UNDER SECTION 294012) OF A) NeTIONAL CAPITAL RAGION — UPTO =WO eo reas “ay AnKAS Anger 70. MEMO. MAA {Comroseo oF LAGUNA, BULACAN, CAVITE, AND RIZAL (o) ALL ommen sRias NOT covaED By sRPARAGRAPIS A AX )~ UPTO FOUN) YEARS*e) Repucen Conronare INcoME TX ~ A DUCKD TAX RATE OF RIOHTHAN PERCENT (1%) OF {HE TACASLE mICOME AS OEMNED UNDER SECTION 31 oP 1m8 CoD EFFECTIVE. JANUARY 1, 2020: "SHALL 8 SEVENTEEN PERCENT (17) BEOMOANG IASOARY 1, 8; OeTEEYPERCENE (164) BHCINING “soany 1, 2026 rPTEEN Pence (16%) secaNe Uusuasy 1, 2026; FOURTERY PamcENT (3%) anne JANUARY 1, 2028 AND HRTEEN PERCENT (0%) seanee JANUARY 1, 2080; PROVIDED, rurrien, ‘THE THE CASE OF BuOISTERED SRirean pexcenr 15%) TO THE NATIONAL ‘ovum 2020 AND 2821; ROURTEEN PERCENE (06%) v0 HE SATIONAL GORERSSENT 18 2022 AND 2025; HITEEN PERCENT (1%) TO THE NATIONAL (02) ro THE MONA GovEROAENT 1 2028 AND 2m2t, nuevEN PeMoEWT (LD) TO. THE NATIONAL (40%) To THE WATIONAL COvERNAENT 1 2050 4K “one nowt mE penceNT (1.8%) TO THE “ons omer me retcunr (15%) 10 THE “Paovios, THAT 1 THE ENTERPRISE 8 WDE (5) sat OF THE LOCAL GOVERMENT UI SHALL “proven, ronri, THAT 1 uy OF THE INCOME TAK HOLIDAY ENDER SHCTION 294A) OF {THE REDUCED TAK RAT OF RAGHTEENPaRCENT (1%) ‘xoeR SEENON 294042, THE TAX INOENTEES [DHER SECTION 294ACD, (Oy ‘0 MAY MB GRANTED ON AN INDUSTRE SPRITE isis AS DETERMINED mY THE FISCAL INCENEOES [RevinW BOARD, TW FISCAL INCENTIVES REVIBW onKo sas 28400), 2xCEFT THOSE PROVIDED UNDER SECTION 294.445) aN SECTIONS 288, 286 aND 297 8) Dury Exawrion — EXEMPTION row sar A an MATERALS DCTrvatsrenaD nereernses: Proviben,TMAr Tax FIVE (@ vexs-urr 7m SumSECTION HALL NOT APPLY “Proving, roRraen, TuAr EXPANSION OF “) Tae crn 18 StL, covERED HY rte Stmaracie INVEST? PRIORITY PLAX O8 18 AX Ives PRIORITY PLAS “@) Custos DUFY BEMPTON WILL ONLY “(@) “Tax customs Dury eaxuPion EXTENSION AL NOP HXCEED FIVE (5) YEARS. “(© Varweanoro tax 1) REGISTERED RTERPAISES WHOSE EXPORT 2) RectsTeReD ENTERPRISES WHOSE FxPORT SALES ARE BELOW TW SINETY FanCEST (808) [THRESHOLD AND AKE LOCATED WITHIN AN BCORON, "rug mney coneLy wi THE RLECTHONIE KRCRIPTS “@)_RONTERED ENTERPRISES WHOSE KxFORT SALRS ARE BELOW NINETY PERCENT (90%) OR ARE ‘Coo ao SecTION $07 OF TS ACE SHALL APPLY. “Fon Hs PURPOSE, PROCESSING REFERS TO THE {YoRM THROUGH PHYSICAL, MECHANICAL, CHEMICAL, ‘TecHNOLoGTANAMLAD INDUSTRIES SUCH AS BOOES,DIRECTORIES, ACHES, MIVSPAPERS, BROCHURES, ‘80.2964, Eymancno DepUcrONS. ~ Tae “ay Depaecution ALLowaxce oF Tar Asses ACQUIRED FoR ax EvarT's PRODUCTION OF {G0008 xD Sees (QUALINAD CATAL erzvorrem).— TEN PERCENT (10%) OR uUDINGss AND TWENTY PERCENT GON) YOR acumen xD qUUPMENT: PROVIDED, THAT uascauneD By Ta SECRETARY OF FINANCE AND THE {Cook oF 1997, a8 sseEeoRD: PROVIDED, UTE, ‘Tar THE ASSETS AME ACQUIRED OURECTLY FOR THE a) Ur To Mery PERCENT GON) ADDITIONAL Loca: stom: PRovibgs, THA? Tus DOES NOT “€) UP 70 ONE HUNDRED raRcaNT (1005) TAQARLE YEAR: PROVIDED, THAT mT 15 omRECTEY {MLA TO THE ARONTERED ACTIVES OF 18 “(UP 10 ONE HONORED PERCENT (100%) Provmoen, Tukr 1 3 GIVEN TO THE EMPLOTEES 20008 AND SERVICES: PROVIDED, FURTHER, THAT ‘a Fsci. INCHYEWES RAVEN BOARD HAS SUED A 6) Ur To One HonoRKD PERCENT (10%) [RecisteaZD ENTERPRISES NSTARLISNING THEIR Tvesraexr —PRORITY PLAN Desionarss‘Oxf MUNDRED PeacENT (1008) OF NECHSEARY AND cack concen: PROVIDED, "Tux Tie GENERAL PUBLIC PuoviDeD, romrues, THAT Te {TE 70 ALL SUCH INFRASTRUCTURE WORKS SHALL, ‘PumiPrIne GOVERMENT: PaornDeD, FINALLY, THAT SURSEQUENT YEARS NOT IXCKEDING MVE (6) YEARS (@) Deovcnox FOR Rete towns 70 MaNuracromNe INoUSERY, ~ Wns {ANY OP THE ACTIVES LASTED 1 THE SreaTEOLC Dvesmaeet PeLOMTY PLAX, THE AMOUNT 80 RIWESTED 70 A MAKIMUM OF FITY PERCENT (60%) ‘ARLE INCOME WETEN A PERIOD OF FUE () YEARS stent: PRovineD, “q) Honssce Net OPenaTIG 1088 CCauey-OvER. — THE NEF OPERATING LOR OF THE IvcisrERED ACTIVITY DURING THE FIRST THREE 8) ans rae tax start oF covonenctAl: OPERATION [VER AS DEDUCTION FROM GROSS INCOME WITEN {UE NIKE VE (8) CONSECUTIVE TAXABLE YOARS "(@) Ur 10 mre pence (604) ADDITIONAL DaOUCTION ON TEE INCREMENT OF EE DOMESTIC [NUE RAPENSE INCURRED 1 THE TACARLE YEAR ‘Pnovingo, THAT 118 DIRECTLY RELATED TO AND ACTUALY USED INTHE RISTHRKD EXPORT ACTHITY "S00 288, INcRYTTES Pom AGRIBUSINESS. — Acumisnest Pxomers OR ACTEITIES OF ‘BCISTERED ENTRRPRISES LOCATED OUTSIDE METHO Mania 450 OFRER URBAN AREAS AS IDENTINED 14 ‘me Srmarvote Invesraper PRIORITY PLAN SHALL, 1 merTuED 70 anoiows Tunes (@) YEARS OF IMoRWnvE UNDER SHETION 284, oF WHICH THO (2) "Se. 208, Povners ow Acrvz7Es Locareo 1 AneAs RBCOVBRING FROM AnED CONTLICT Of & Disistex AS ORTERAINED BY THK, OFFICE OF THE PRESENT ALL vrAL 70 ADOYTIONAL THREE (@) veA8s oF INcETIE UNDER SECTION 284, oF cu r¥o (2) Yeas May AN ADDETIONAL YEAR OF“e.297, Revocarion Prosecrs on Acres, ~ PRot 70 Tue RrPMCNNTEY OF Tes [RELOCATING YOM Mem BUNA AXD SELECTED UunaaneD aneas apance® 0 MEtNO MANILA TO ‘ADOEIONAL THREE) YRARS OF INCENTIVE UNDER SECTION 206, OF WHICH =WO (2) YEARS MAY BE AN *cuarree It “tw Finca Incase Review BoMKD “vc.288, ExPavoso FuNerions oF rae ‘seas, Downes Review Bowe. Tae FENCTIONS AND POWS OFTHE FISCAL INCENTIVES Revi Boa caearz OER PRESET DDecarx No. 716, AS AMENDED BY PRESIDESTAL DDrenss No. 1931 AXD PRERDENTIAL DECREE No. ‘Ono No. 23, SERIES OF 1986, AND EXECUTIVE (Ompen No, 99, Seas oF 1986, HALL uF EXPANDED "W) To exewasse poucy wana aD a) Set AXD REVIEW THE GRNERAL POLICY “e2)RSVUEW AND AUDIT THR COMPLIANCE OF Prasonst MewoRaxun ‘cere #7 HY TH FISCAL INCENTIVES REVIEW Boano As aaxareD ras Act, Tus Srexracic Ievesrcner PRUORETY PLAN, AND THE RESPHOTTE a) erent THe MONE comCDOUS UDG, AND SELECTED AREASON FLOOR: a) CosmucT REGULAR MORITORNG AND sca, IENEVES, SUCH AS USING COST BENET 6) CHPOR AND VERIFY REOULARLY ‘THE “@) TosrPnove oR DSsAPPROVE THE RAT OF‘aE Iyvasnamer PRowoTION AciNCY BoaR: Proven, Tusr TmE APPLICATION FoR TAL DctneD UPON BY THE PScAL DICENTIES REVIEW Bound AFTER FORTT-IVE 48) DAYS UPON 1O) To aPPnove appuicamons oR OWTROLLED —CORFORATIONS, GOVERMENT *) To caNcet, SUSPEND, Om WirADRAW THE ‘oLLoWiNG REASONS: (1) FAILURE TO MAINTADN THE |QUALICATIONS REQUIRED BY THR CONCERXED INVESTMENT FEOMOTION AGENCY OR BY SHR FISCAL Icewnves AND (2) WOLATIN OF ar PROVISIONS OF “(To caNceL, SUSPEND, OF wrrHDRAW “ ‘COMPORATIONS, GOVERNMENT NSTRUMITALETIE, “(?) To nOQUIEE IVETE PROMOTION [SHNRTES DATA AS INPUT 10 THE FISCAL INCENTIVES Revo BoARD’s REVIEW AxD AUDET FUNCTION AND “@) To roms me suees OF ‘st 1 SURSDIS, RO VESTAENT PROMOTIONseus 6 {20 STATE UMIVERSITIS AMD COLLEGES, LOCAL ‘Comma MI, AMONG OTHERS, “q) To optaN mroRMATION, semuoN, ‘CovERNaMENT UNITS, DOCUMENTS, RECORDS, OOK, "Q) To sumur aveeaL maroRS x0 Ta "Qo To suuser TO. ConaKEsS Mowry “(Tox ax nurose measonAnL ME AND ‘sca INCENTIVES OR TAX SUHSIDNS: PROVIDED, “0 To mease sl omen roms ‘roscrins O8 TH FISCAL INCENTIVES. REVI oan; x0 “e) To rowurcire sue RULES AND Rev BOAKO PROPER SHALL DRIDE ON ISSUES, (Fic sts AUTOMATICALLY RP THR CO-CHAIR “Paovinen, natex, Twat vam NaTIOnAt [Beomowte AND DEVELOPMENT AUTHORITY AKD THEDepart OF TRADE AND INDUSTRY SHALL me "See, 990. CoMrosimoN oF rus Fisca Incewrnes REvEW Bosna. — THR Fscd, Ieswrves Review Roan saat. ae “Cuainraasos — Stematany oF Pxasce SMsowns ——SeeRETARY oF TRADE AND nous = Dimscror Gavaaat oF rie saxo Davetorsexr = Stenerany oP Buvoer — xzcurve Seenetant oF “Teewien. Comarsn® ouaimranson - Umemscurisy oF race tenes ‘UnDenstenstary oF anacine Hea x0 Masson = Dererr Duar Gia ‘oa Nam. Foose so Devmomaner ~ Comussiowen oF TEAL = Covoassionrn oF Cusrons Raseancn Cunren “SEORETARIAE ~ NATIONAL TAX RESEARCH cere scaarren tv Quart Actors P08 Tac INCENTIVES "See. 900. Smarscie Invesrvr Pron ooRDINATION WITHTHE OFnic OF Tae PRESIDEN, [THE FiscaL INCENTIVES REVIEW BOARD, THE Pious PL roa suminrrenTo-THe PRESIORNT [0 APPROVAL NOT LATER THAN DECEMBER OF TE SALLE VALID FOR A PERIOD OF THREE (8) YEARS |NoLUDRO wus SrRaTEEIC INVESTMENT PRIORITY ‘PLAN SHALL UNDERGO AN EVALUATION FROCESS 70“rue Sraanpate Ievesraet PRIORY PLAX ia) Iscuume Acros TaAT COMPLY Wr a) BE covseo py HE PamLreINe DDeviuonumer PLAN OR 1S EQUIVALENT AND OTHER a) TARE TO ACCOUNT. ANY OF THE ) SuperaeTAL AMOUNT oF BeVESTMENTS i) Comsiousanie GENERATION OF 6k) Aornos or cLuSIE wosTNEss ‘Su ano sensi DETERS, io) Use OF wopERN ox NEW TECHBOLOGY: 0) ApoPMON oP ADEQUATE ENRONAMENTAL Pmorecrion swsTEMs; (oi) ADDRESSING MUSING GAPS WW THE “i) Powomow or mans commetTIENEss “itp Export or ar LEAST sevenry rexcaN (00%) oF PnoDUETS OR sKRVICES. FROM res 8) toner, Acme Acre, HE MO) Devewane services x0 actvims “@) Iscuupe masrNe meosreRED pRosEcTs (om activins THAT SHALL RELOCATE YOM METRO ‘Mavi. ro ori atta OF re cOUNERY. srmcine QUALINCATON REQUIREMENTS. Of Boao oF HevestueNt. [EMPLOWMENT GENERATION REQUIRED FOR 4 SPxctFC [EVERY THREE G) YEARS TAKING INTO CONSIDERATION CGrasr on De Incesrives, - Tae PRESIDENT MA, 1 FiscaL INCENTIVES REVIEW BOARD, GRANT OR ‘mobg® UNDER THIS CODE, CLUDING A LONGER ‘sm0n, To MIOHLY DESIRAMLE PROAECTS: PROVIDE,0) Cuuren ron avarice. ~ Tax Pca canes REVIEW BOARD SHALL CONSIDER THE natn wy nix Puestoes: “Q) THE PHowwer 4s A coMrmenmssvE INCLUSIVE BUSINESS APPROACHES AXD INNOVATIONS, "@) Mobo reESHAENT OF TWO HUNDRED 08 US DOLLARS (USE20,000,000 on Ase ‘THOUSAND FIVE HUNDRED (1,500) WEEN THREE (2) “Tur rumssuoLd SHALL BE sUNIRCT TO A PEMIODIC REVIEW HVE THREE @) YEARS TAKING “@) IN tHe case OF A mnexDORT 20N8, THE sca INcRerVnS REVIEW BOARD SAL. ASSES Ta “Tue FiscA. INcenrvis Rev Boao wav (8) Use oF Resources. ~ WW rae excise APPROPRIATION, POWER PROMISION, AMONG OTHERS, 4S May aE ENED BY THE BOARD oF evesreenrs| onsmwer Phony Plax, - Sunseer to PPOMICATION magUIRENENTS AX THE CRITERIA YOR (OF TvESEINTS AY, AT AB. TIME, INCLUDE ADDITIONAL AREAS IN THE SrHArBGIC DIVESTMENT rm acmvery i= usTeD 1% TH Stearaaie vse PRIORY PLAN” "SEC.302. PUBLICATION. UPON APPROVAL LEAST ONE () NENSPAPER OF GRNEAL CIRCULATION "S80. 204, QUALIFICATIONS OF 4 RecisrEREDIsceNTES REVIEW HOARD, A RBGISTERED “a) Be mcuaeo I AN ACV NcLADED I ‘rr Srmarbate Inver PRIORITY PLAS *@) insta aN ADEQUATE AccouNTEND (©) Courts wr nue Basworce Avo Bsatns nquinedene 18 ACCORDANCE WE S¥CTION 297-4 corms Cooe: axD “Dy Soma oA nEpoRS OF onnERSHIP souarnen v "SEC 306. Incas Pex BASED INCENTIVES, — ALL RHOISTERED TERPRISRS SAL HL ER TAK {CULTS OF THE BUREAU OF INTERNAL RAVEN. [i avamNG HE INCOME TAC RAGED INCENTIVES, THE [ISTERED ENTERPRISE SHALL, BE REQUIRED TO ‘uy Fasca becewrVs Review BOARD ASD ATTACH [THE Sane T0 mS INCOME Tax RETURN Om ANNEAL BRSReE IxroRUATION RETURN, WHICHEVER 1S APPLICABLE currcaTION 10 THE INCOME TAX RETURN Of Awa InvoRMATION ReTeRS, AN 70 FEE Ta “sre. 906. Custos Dury Exmeriow ox (Carmax Rovre: - IuroRssmiox oF cxPmAL QUUPMET, MACHIMERY AND SPARE PARES {EST OF ONE HUNDRED PEKCENT (00%) OF THE “) TE CAREAL EQUIPMENT ABHOR SPARE {QUANTITY OR OF COMPARABLE QUALITY AND_ ATOR ON RDOISTERED ACTVIRS. INTHE VANE HAT [THE FIRST AVE (YEARS PROM THE DAME OF ‘BORTATION, THE REGISTERED RNERPRISE SHALL Pins Si8x PRON APPROVAL OF Te AUTHORITY 4X0 “) Tux arrmovaL o mur vivesraEer "A AND CUSTOMS DUTY EXEMPTION REREUNDER, AND “Q) TF soe 70 ANOTHER RYTERPRSE *@) IF MADE TO ANOTHER aNTERFESE OF (APrAL BQUPMENT ANDIOR SPARE PARTS TOME SOLDs "6) BxrowaTion or capma equine, MACHINERY, SPARE PARES OR SOURCE DOCUMENTS Of a) Proven TecmacaL onsouEscEsCE oF “Puovoe, Tuas 7 THE aRcIsTERED ‘ONDEE, TRANGVERRE, OR ASSIGNEE SMALL aE ‘Bono TEs MPORTATION: PROVIDED FURTHER THAT ‘cera EqUIPMEe WAS MADE AFTER IVE 6) YEARS sec, 907, VALUEAnoeD Tex RarUsD Mectasisw 0" hosr4r08 oF Carat BQvIDMaNT ‘xo Raw Marensts, ~ THY YAUOPADBED TAK 08 DAPORTATION OF CAPITAL EQUIPMENT. AND RAW [WAT PAID 70 MEET THE OMETY PHKCERT GO)RuvOND SYSTEM USDER SECTION 106 AND 108 OF “Paoceounas, Susser Provisions, 0 ‘SraucTURAL ADsURTMeT FUND sec.308, No Dormer Rectrmarox oF Evrenpmses, — Reowrenuo anrenrnies ss, ‘Mom HAN ONE (1) NVESTAENT PROMOTION AGENCY” ‘uruovess worms PVE (5) EARS PROM DATE OF 88.910, Invermere Prion 10 ru "THE NooME 14x HOLIDAY on FORA PERIOD OF PIE) ‘ARs ONLY, WHICHEVER COMES rnsT, PROvIDED, “Tnar TE PIE PERCH (5) TAK ON CROSS INCOME en, TUAS THE FIVE PRRCENT GH) AKON ROSE BUedRERE REE ® “a) Two @) veans voR ACTS EXJOMNG ‘run rex NCENTIVE FOR ORE THAN TEN (1) YEARS, 48) Tawa) veans Fox Acres EXOT ‘me tac CHUTE RETO HIVE (5) 420 TEN (10) vans AND “© Five veans rox actors ExuomNe mer NCENTIVE BELOW P71 () TEARS “Paovibe®, FINALLY, THAT ExISHNG BGISTERED ACTIITIES WICH WILL QUALIFY FoR PRIORITY PLAN, sav OF? 70 RE GOVERNED By THE PHoVISONS OF TRS ACT: SUCH CASE, RE SAID [DMTERPRISE SHALL ME REQUIRED TO SUBHENDER ‘Tax Incewnves oP RocisTeRsD eTERPRSS [REFUND AND PBNALmIES Waren 489 CoNDONATION. = Ta Fiscat INcesTVEs REVIEW BOARD MAY [RGISPRATION TERMS AND CONDITIONS, THE FISCALIscenrives REVIEW BOARD, THROUGH THE RDQUIRE THE PAIMENT OF TAXES, CUSTOMS DUTIES “sec. 012, Sraveremat Anwsiaye Fox, — a) Taw AMOUNT OF Five HUNDRED MILLION esos (9500000000) suaLL BE aprnorniareD Deeanesr oF Lasor AND EMpuonsexr, 70 “@) Tux snows oF Five utxoRED waLLION sos (P500900000) su. BE armnormTED ) THE AMOUNT OF FIVE MILON PESOS (5000000000) sua, me ALLOCATED worLLY ‘OUTSOURCING INDUSTRY. THE FUND SHALL BE SOLELY “(ay Te AMOUNT OF FIFTEEN BILION PESOS (€15,000000.00, 16 ABOMON ro 2¥r angus ‘aso mureronTs 10 BE AFFECTED BY THIS ACT. ‘Ts SUMSDOY SHALL uMEWSE BE UTLEMD To {owER, WATER AND OFHER UTLITIS, LEASE OF ‘tue RELEASES ToT IWVESTMRNT PROMOTION ‘Deraamaent OF FINANCE AND Ta DEPARTMENT OF -Bupaer Axo Maxon.PUMFOSES SHALL BE TERMINATED FIVE G) TEARS “Ske 319. EAANCHD Tax EXPENDITURE FUND ‘Sesrou — ALL STERNAL. REVENUE TAK AND Coss TAK SUSIE WTR THIRTY (3) DAYS FROM "See. S14. ANAL Rerowr. — THE Pcat NCHNTIVRS REVIEW BOARD sat SURMT A AEA (OF. TRE REPORT SHALL WE MADE AVALABLE T0TH 80.91, Tie XL te 1007, ae senda chr rnb Tie IV, ea at fallow: cre pam xv -napiasine Provisions "St. [91]15. In General ~ Album, eos sete orders rule and eglation cr pet thre she are coatzay ta intent wth hit Cae ae my pale amended or modied acting % 0) To enmae that Depart of Pan, atonal Eecomie and Development Authonty ad Depart of Trae ah Indy are rprseted in he Govenog Boards f all imetaeat promotion sesmsog, ware the Departaent of Finan shal suonatizaly sere ah Cobar, andthe Department of Trade and Industry and National Benanic and Dowip ‘Sec 209 of ths Aa the owing provisos, nog furs amended acing: (Arise 4 of Baacotive Order No. 226, at med, ented The OnsbusInverteta Coe of “(2 Section 9 and 1 of Repub Act No. 7227, tied An Ac Aerating the Conversion of itary Resereations nto Other Productive Uns, Creating he aves Conversion and Delp Authority for ie Pury, Providing Funds Theror and Gr Other Purpose "@) Salon 8 of Eesti Order No 60, sie of 1005, exiled “Authoring the Bablshiment of the Clark Development Crpration at the npeentng Arsh of the Bases Conversion and. Developmeat Asthoty fr he Clank Special Bonomie Zone, and Dinetng all Heads of Departnnts Bureaus Ofes, Agsoses and Tosrumentltes of Goverament te Support he Progra “W fecton 6 of Bete Ones No. 18, eee of 2a, sae “Authorizing the Craton ft Foro nt Astbonty at members, pursuant woPoint Manogment Coperaton ae the lmpemectng ‘em ofthe Bane Coeversn Devloiint Aithany oor the Pore Poet Spel Benoni and Preepor ona snd Renaming the Js Hay or Peat Deepen Corporation athe dab Hay Managment Carport! “) Section 9 of Rabe Act No, 705, eile ‘An Act Centing a Special Heaomie Zo and Peeort In th Cy of Zambuange Crestor thie Pape the ‘Zamboanga City Special Broome Zone Autor Avpriatng Pane Therefor, anor Other Ppa’ (6) Seeon 1M of Repub Act No $728, atid ‘An et Converting hn Bataan Bem ane Located {2 the Manipal of Maro, Povines of Bataan ‘oo the Frere Aree of Buta (FAB), Creting fo hss Pupone the Aston of the Freprt Aes of Basaan (APAB, Appropriatng Funds Thread for Onker Pape Sein 6 of Rp Act No 959, nied "An Act Dearing « Neon Pai fr Tours gine of Tovestnent, aploymect, Growth end National Development, and Stnghening the Department of Town and ite Attached Apacs to ociy and Ri "Seton 15 of epic At Na 490, ett "An Ae Bteblshing the Aurora Special Hanami Zone nthe Prov of Aurore Crating th Papo he ‘Aurora Spl Roni Zoe Ait, Arpmpiatng ‘unde Therefor fr Other Purpose a anand by Repub Act No 10085 "O) Section 7a Rope Act No 828 ena ‘An Act Enabshing a Special Rsoomie Zane and report in the Manipal of Sante Ana and the Neigoring Islands in the Muniopay of Apard, Province of Cepyan, Proving Funds Terr, andor Other Purges 0) Sectinn 6 of Prnial Drene No 598, lied “Crating and Enabling the PRIVIDEC Indus Authority and Making Saber Agency of tbe Phlgeae Vouraos tnvemest Devlpment CCoparason, Defining ta Powers, Fancont and Responiliin od for Osher Purposes, ae amended by xe Orde No, 131, serono 1985; and “t) Secon 1 of Republi et No 7916, ened “Aa Act Proving for eho Legal Framework and Mechasims forthe Creation, Operon ‘Adminstration, end Corinaton of Spel Beaomie ene inh Philips, Creating fr his Paro, the Pippin Boson Zone Authority (PRIA), andr Otter Papued” 1B) To teanatr to the Pal Incavs Revie ‘Board the poner ofthe Inesent Prsinion Age Board wo revew, pprove or epee Bz eentes 20d to mandate the Iovestent Promo Agey oar to rented to the Piel Incentives Review Board star thorough review ofthe aplinion, he» spproral ot dsaproral of the seme, the lowing rovison are barby amended: 0) Arle 7 Ranestve Order No 206, erie 1W6T, se ameoded by RA No. 7BI6,eaited “An Aa Anning Artie 39, Tle Ml of Baste (Order No. #28, Otherrise Kowwa asthe Omnibus ovement» Cale of 1987, a6 Amended, and or Other Pups "1 Soxtin 7 of Rape Ast No, 703, nite ‘An Act Coenting a Special Boon Zone and Frepert in the City of Zamboange City Special Beoomie Zone ‘Ahoy. Appropiting Pune Trlr, and for Other Purposes "Seton 1a asetve Orbe No 455 nied Tavestats Over Ivette Win tbe Aono gon in Maslin Mindanso the Auionomous Regina Gverament sd fr Other Purpue 18) Section 18 of Repub et No. 9728 ete “An Act Converting the Bataan Hemomi Zane letad {a the Manipal of Marsele, Province af Betaan, low the Pieport Area of Batsn, Crenig fr the Purpose te Aston f the Frepore Ava of Bataan (APAB, Asprpintng Funds Ther and fr Oter Paros! @) Soton 10) of Repu Act No. 122, at mended by Repub Act No, $40, entitled ‘An Act Aeclemtng the Conversion of Military Reservations fste Other Produie Uns, Croting the Bases Conran and Devlpment Author fr the Pape, Providing Pande Trt a fr Other Parone 1) Section 8 of Rape At No, 9400, nied ‘An Act Amending Rape Act No, 727 COtiervae Kaown at the Bases Convers and Development Act 192, nor Other Paps’ °C). Soxtina6ts of SabcapterTV.B a Rape ‘Act Ns, 9599, ened “An At Delarse « Ness! Paley for Tourn a aplermen, Growth and Naina! Deeopment end Swwngtesng the Department of Toure apie Attached Ages to Eat pleat hat ai, sd Anproeating Pans Tere 1) Seton 7 and 12 of Republic At No. 900, cniled “An Ast Ratblahing che Aurora Special ‘omnomie Zane inthe Povo of Aur Cretng Sor ‘the Purpone tht Aurora Special Haonomic Zone Athan, Appropeiatig Funds Therefor a for Oter Purpose, as amended by Republic Act No. 1008, ented ‘An Act Amending Republic Act No, 9490 ‘there Known ae ibe ‘Aurore Special Eeomie Zane 5) Sectian 6 of Raub At No, 722, ened ‘An Act Ratahahng a Speci Henomie Zoe nd Foe Port in the Munsspaty of Santa Ana and the Neigtorng Islands of Cagayan, Providing, Pande ‘Tare, and Sor Other Paros1) Sexi 4 of Presidential Decre No. $38 nided “Crating and Establishing the PHIVIDEC [educa Autry on Making it Seite Agcy the Philpine Veterans Investment Drvlopment Corperation, Defining stn Powers Puce and asponsbiities, en fr Osher Page and uy Sections 13 and 21 af Rape Act, No, TOG, at amended by Repube Act Ne. 6746, ‘ote 'An Act Providing forthe Lagal Framework snd Machanioms for the Creation, Operation, Adsiistratn, and Cadination of Special Ronee ‘one nthe Pippines, Creag fr this Parse, the Prtppine Renomle Zone Authority (PEZA), and fr Otter Pupoer™ “(©) The flowing laws ae barby amended ts ‘mandate al internal roves taxed day ations of the elovant enon be chargabo to the Tax spendture Fund THE) pwn to Seton 10 his he "C) Secton 18 af Republic Act No. 7884 tied “An Act Crenting Ube Naso Dairy Asan to Aclerta the Delp of the Dairy Indu in ‘ho Philpine, Providing fr « Dairy Develasat und and fr Other Parpone; A) Section of Republi Act No 793, nied ‘Ao Aat Cretng Special Fone Za a reper {in he City of Zamboangs Cnaig fr he Parone te asboanen City Spucal Romenie Zone when, Appopiatng Punts There, andor Other Pry’ “W) Secon 120) of Repalc Act No. 10085 nile ‘An Act Amending Rape Act Na. 9960, COtiervise Kaown at he “Ausra Special Beoonie A) Sections 29,57, 74, 95) of Rapbic At No, 8, ensind’An Act Desaing Turon a Bice of lovedment, Employment, Growth and Notional Deveapsent and Strengthening the Deparment of ‘Tourn or Tore At of 208 6) Section 10 of Presidetat Dorn No. 638 otied “Crating and Batalishing the PHIVIDEC industri] Auton end Making it Subsidiary Agency Reeponslig, and fr Oter Parone; (6) Section 164)0) of Repue Act No. 9487, ned "An Act Cretng Ci Atm Auto of ‘he Phlppices, Authvning the Appropriation of Fed ‘herr, and for Other Parone "Sein 1 of Maple Act No. 795, atid "An Act Gresting the Phippine Postal Carertion Define te Powers, Funstinae and Responses, Proving Ropltion of he Indu ad or Otber Purpose Connected Thar: "Seton 8 and 14 of Present Daw No. 259, cotided “Cuming the Natal Elerion ‘Adasen wa Corporation, Preering ts Powers tnd Acne, Aproriing the Newestry Pande ‘Torfre apd Decaing «National Ply Objective frthe Teal heaton of the Piprines ea an Ars ‘Coverage Sevin Basi, the Oration, Proms sod Develpment of Rect Coopers fo Ain the ‘Said Objective, Proveibng Tes and Condtins for ‘hei Operations, the Repeal of Repu Act No, 698 “1 Secon 9 and 19 of Rapa Act Ne 967, led ‘An Act Further Streeter the Home Develops Mutal Pin, a for Other Purpose “(0) Swoon 19 under Section 8 of Raabe et 676, eid ‘An Act Ieeasing the Maina, Deposit Inurane Covers, and in Connection ‘herewith, Strngehin she Repuatary and Amina Authors, and Fnac Capaity of he Phiipine Depot Insurancn Corparstin (PIO, Anending for tis Purpose Tape Act Numbered Tasee Thoutnd Pit Hundred Ninety. Ons, at for OtorPapoe! “(iy Soxtinn 18 of Rape Act No. 7820, ented "An Act Crating the Pardo Dewlpmest Adminstration, Delning ite Powers and Pts ‘roving Pande Terr, an for Other Parnes (1) Section 69) af Republic Act No. 8610, tiled ‘Ap Ack Enabling the Credit Infrmation Syst and for Other Paros (1) Section 1) af Presidential Doses No 857, oiled Proving fr the Reorganization of Pet Adminutratie and Operation Punto ia the Paap, RaviongPreidntil Decee No 605 dated “Jy 1, TA, Creating the Phipine Port Autry, by Subttin an fr Oter Purposes "0 Section 19 of Repub Act No 687, nied ‘Aa At Cresing and stabbing te Philp Spores Commission, Dering ta Power, Funsons, end Response, Appropsating Pune Ther od fr Othe Purse “(s) Secon 90) and Section 15 of Repubic ‘et No, 695, eit “hn Ast Reig bn Chart of ‘the Naina Power Corporatio end “(0) Secon 2 of Repub Act No 7906, ened ‘An Act Prova oho Rstabichment of tho Pope's ‘elvis Network, Insapoated, Desig its Powers sod Puetions, Providing frit Sure of Panding end {oe Otes Parone ) Te ini of clan in the tax prone i eon oven yeh flowing fein Is ae ‘erty repealed wo) ens othe sy fi ‘Aetand the ent covered shal py the corespanding Nasional Internal Havens Cole of 197, a amended a) Section # of Ropuble Act No 7988, ‘ned ‘An Act Amending Republic Act Numbered SistySix Hundred Thrt-wo Batt ‘An Ac roting the Paine Raciog Act, Ine a Francie to parte an Malsain Race Track Hore Racing in (he Pron fiz, aod Beteing th Sad Pranchiseby Twenty Five Your fom the Expiration of th Tem, Trot 2) Sort 12 of RapulieAct No B47, ented ‘Ao Act Amending Republic Act Numbered Sixty Six Handed Tiry.One Rad “An At Grating Maia ‘helay Clb, In, a Frances to Contruct, Operate ‘od Maintain Rasta for Hore Racing in the City asl ray Pa Within th Prine of Baan, CCevie or Ril” and Exandng th Sid Pratchine by ‘enty Fie Your (28) om he Eapecon of he Te eral (8) Secon 9 of Republi Ack No, S28, ened ‘An Act Amending Rabe Act Numbered Seventy: [Nie Mundred Sovnty-Beh, Batied "An Act Granting the Mateo Mania Tu Cb, ne, «Francie 'e Construct Operate and Maintain 8 Rasen for ons Racing inthe City o Kalookan”: and “W Sotion 12 of Republic At No, S45, nied “Aa Ae Orting the FL Asa Racing Cah Panis to Constr, Operate and Mastin 2 Hace for Hoowe Racing sn Ral ot Tala or Paspanes or Betangancr Queso Cay” "G) The provision of the Slowing lave Incaing te tax incentives, that ae cosine with thin At ar hereby amended o ees fective two (ayer i hefty of i At: ") Soto 8 of Republic Act No, 658, nts ‘An Act Proving fr th 1980 Charro the Al ‘Amanah Ine Tnvesinent Bank ofthe Pisipinen 2 Autbncsing i Conc of Iai Banking Burnes, snd Repeating fr this Puyo Present Decree [Numbered Two Hundred and SseyFour as Amended ty Prosdesal Daese Nambaed Five Hundred and Forty Two Creating the Phiipin Amana Be "@) Sato 17 of Republic At No, 7906, eid "An Act Providing fr he Regulation ofthe Organization snd Opertons of Thnit Banks, and for Other Purp ") Soin 18 of Republic At No, TH, ened ‘An At Providing fr the Coan, Orgniation and Operation af ural Bank, an fr Other Purpose (6) Book Tie, Arle 82 Tie, Artie 94), (C, (A) and Tike WV, Artie ‘Book I, Actin 59,0, 6: Bunk IN, Article 68 ‘Book VI Aries 7 and 78 of asuive Orr No, 25, seve of 187, ented the Orbs Investments Cole ser (6) Secon 1 of Mapaie At No, 78 ented ‘An Act Amending Arle 30, Tle Il of Bsoutive Order No. 226, Otherwian Konwo a6 the Omnibus Towser Code of 187, Amended and or Otber “1 Arties 62 68, 64, 65, 66 67, and 68 of Rape Aa Na, 876, ened “Aa At Providing ‘or the Tema, Consors and Liening Regret cf Regional or Aree Huadquarer, Regina Operating Headquarters, an Regional Wareboues of Maticatonal Compan, Amening forthe Pursea Certin Provision of ewe Oar No 296, (Otherrise Keown ae the Omnibus Invests Cale “O) Mawctive Order No. 22, sre of 2017, suneingEatstve Order No, 7, ino 2012, 0 Exactve Onder No 828 sin f 2006 ad Bs (Onder No. 818, meri of 2104, ened "ofucng the Rats of Duty on Capt Rauipnent, Spare Pais and Acar Imported y Sie Bond of lnvetnente Aegotared New ad Expening Betis! %@) Seton 1 of Raub Act No 807, ened ‘An det Providing for the Development of the Bok Publishing Indurtey ‘Though the Pormulation snd Tplmetation of & Naioal Doak Pocy and = Netionl Bok Daven Plas 9), Section 1) w nsf tx xompton slor VAT sorting oo Somatic merchnde ie concerned, end Secon 18a, 0), ©, and of Prien Deere No. 66 ented “Crentng the part Pruning Zane Antony and Revsing Repub Ae No. 80; (1) Sorin 6) ad (sta a ta xeon sod VAT seroraing on doaeatic merchandie $e conan, of Repub Act No, 1908, ened An Act. Crntng« Speial Resnomie Zane and Freeport in the Cty of Zambonngn Crestng fr the Paryom the “ambosngs Cty Special Honamie Zane Auten, ‘Arpopritng Funds Therefor, anor Our Prptos “1h Secsan 40%), Samar a8 tax exemption sedor VAT arorating on domestic merchandie is oosaaed f Repu Act Na, TR, ete 'An Act aublhing + Special Reon Zone and Freeper the Mleicipaty of Sata Ans and the Nuighbong Inands so hn Municipality of Apa, Povine of Capnyan, Providing Funds Taser, and for Otber 02) Section 4 af Republic Rt No, 848 ened “Ae Aet Amending Raabe At No T16, Otherwie Known a he "Spel Beano Zone Act 1986" °(9) Sect 28 apd 24 of Rape At Ne. 781, ‘ete "Aa Ae roving fr the Leg Framer ad Meche forthe Creation, Opstation ‘minitstin, and Cneinaton of Special Ezoumie {ons in the Philippine, Crete fr tw Pape he Prilppioe Rosle Zann Authority PEER), and fr Osher Purpose “1 Section 1 of Raguble Act Ne. 0400, amending Secon 128) of Raabe Act No. 721, ‘sofar as tax exemption and VAT strafing of emetic mercandse and capital equipment am covenaa,Saction 120, Seton 2 menting Seton 18 son, third and lat paragraph f Republic Act No. 1221, Sstion 3, Gs nd tend paragaps ectinae 4 sod Beni An Act Amending Repub Act N72, 1 Amended, thera Known nh Base Conversion snd Devlopnent Act f 1982, nd Sr Ober Puro8) Sexta 1 of Heating Order e639, nuded “Crating and Desizating Speci eon Zones Portantt Rabie Act Na, 7916, a4 Amended by Republic Act No. 8784, i Relason to Rope Act No, 131, Anne by Relic At No 10, aside te Cla reepart Zone “) Scion M567, 8nd 9 of Repub et No, 940, wate ‘An Act Rstabihig the Aurora Speci Hessomie Zone Sa the Prone of Arora Crating forthe Parone the Aurea Spell Heosamie aoe Author, Appropsating Funds Trlr and fo Ose Papas 7 Sectiane eH) and 4 of Rapbtic Ast No. 1093, eile “An Act Amandine Repu Ac 1) Secon note ne tex exemption andr valsedied tar or VAT sesating 00 domewie Suton 6 6, ad 10 of Rape Ae No 8728, ented "An AatConvering the Bataan Esoomi Zoot Lota 1 te Musipalty of Marvel, Province of Betas, ot th Prepare Arve of Batsn (PAB), Ceetng for ‘his Papa the Autonty ofthe Frogpre Awe of Bataan (APAB), Appopitng Funds Therefor aod for Otter Purged: “1 Section 966) and (of Presidential Dee 1,705, ented eiing Presidential Decree No. 349, Otherto Koonn a he Pstry Rotem Code fee Posies: “0 Seton XIN) of Rape Act Ne, 00, ile "An Act Providing fren Bell Sd Waste Management Program, Crating he Necary Taina Mechasinms st Inning, Desai Certain Ate Prohibited and Providing Penlie, Avprpriating Pd Tei, nd Ota Purp! “) Section 268 of Repub Ae No, 928, eid An et Proving for & Camprebenive Water (only Managemen ofr Other Parse "(2 Seton 16 and 1 of Rub et No. 7844, tied An Att Delp Exports Kay Toward the Ackewement of the National Goals Towa the ‘Year 2000: (23) Suoion 1 of Repue Act Na, 10817 cnt An Act ting the Pippi Halal sport Dovlopnat and Prssion Program, Creating the urate th Philippine Halal port Devlpmect nd Prom oa nd fr Oter Paros "(4 Seton 1 of Repub Act No, 843 entitled “Aa Act Crenng the Pippa Istitta of Teton od Aherasie Keak Care PITAHC) to Amelerate the Detlpmen of Tadisonal and Alternative Health Carine Paippies, Proviliog fr 2 Traditional and Averstive Health Ca Developseat Fund and for Obes Pater Qs) Repub Act No. 1718, onl “An Ast Amending Carein Seotnn of Republic Act. No. 6957, Ent An Act Authrag th Financing Contra, Opuraion and Maintenance ofeee Tatasrcate Projects by the Private Setar and er tes Pagose 26 Section 60K end Soins and 8 Repub At No, 710, emiled ‘An Act to Strengthen he tom and Stil Indutry and Prosote Palipine Indetalinton a for Other Purpone “Secon 3) to) and) of Repu A No, 952, nite An At a Promote he Development of Ge Jewelry Manatctrng Industry, Providing Toca Tarr a fr Other Paris! "28 Seton 8) of Repub Act No. 107, sided "An Act Promoeg tbe Crain of Grea Jobe, Gretiog Inwstius and Appropristiog Funds Tone 28) Secinne 80, (10 of Repub et Ne 8601, tiled ‘An Act to Promcie Eatopreseuship. by Swengthenng Devlpment and Avitace Programe ‘Aroving fo th Parone Repub Act No. 697 ‘Anded, Onorwisn Known a the "Mags Cara Po Slt tepid fr Obes Parone 0) Secon 7 of Republic At No, 178, erie “Ae tet to Promote the aeblahment of Bares Mize Boccoe Entrvoes @OMBES), Providing Tooaves and Becta Theor, and for Otber Puposs “1 Chapter XV, Seton $3; Chapter XV ‘Secons 90,91, 92, and 98 of Repub Act No, 742, ile ‘An Act Instiating « New Sytm of Mira Reures Exploration, Devlpsent, Usain, end GD Chapter, Senin 4 and Chapt VI Secon 19 of Rap Act Ne 9295 nid “An At Promoting the Devlgmest of Piiprine Domest ‘Shiping, hipbuéing. Ship Repair ad Ship Brakog Ordaining Hefrms in Goreament Puen Towards ‘Shipping in the Pippin, nd fe Other Parone: “G3 Soctin 6 of Republe Act No. 147, seeded tiled ‘An Att Promote te Deeopent Philippine Overseas Ship’ “0 Secsone 86, WH and $a) and a) of Repub Act No. 0695, ented An At Deting & atonal Polly for Touran at an Racioe of Tavestnet, Employment, Growth and National Derlopagat, and Stnethenne the Depereeat of ‘ourom end te Attached Aen to Ete and ial Implement That Poley end Appropriate 9) Secon 8 sor se concer of Rapui Act No, 10616, aad 'An ‘et Providing fr the Development an Promotion of Par Teri in he Pipe "6 Seton 8 af Poidntal Dawe No, 1481, ‘Amending Section 6 of Preideatia! Dare No. 838 CPhippine Veteran aveiment Development Comoro "7 Secon naar a tax exemption and VAT sarong of domestic merandas ae cosa, aeeueeees 1 Seton 9 of Presidential Decree Ne 638, entitled ‘Cretog and Extaliaing the PHIVIDEC India Authonty sod Making « Subsery Sep of ‘he Phippine Yetrane Investment Derepoeat Corporation, Define st Powers, Functions end Respoosibisin snr Other Papo (8) Sextnn 10.1) of mete Order No. OTA eres of 1908, enied Porter Cling the Tax and Dusy-Pre Pivige Witla tho Subie Special Beoomic “(90 Seon 61) end (52) af Betve Orler No 29, erie of 2004, eile Taplementing he ‘Natural Gat Veil Program for Pie Transport {40 Sections 18 and 20 of Repub Act No, 6847, Pippin Spore) Commission, Dening ie Paver, ‘Teer, and ar Other Purp "(Sections (6) ap 2 of Presidential Daewe No. 176, ented "Moding All Laws, Acts, Decrees (Onder end Ontnanes Grating Subsidies, Bemis from Taz, Duties, Fes, poste and Other Charee Under Corin Excaptons ant Orsting Fic! Ince one “2) Section 2 of Presidential Dee No 198, ‘Dieting te Rasonlatio of Duy and Tar Exemption Prepes Granted to ‘Government Owned o-Cotlled Carporations and All esos of 164, ot “Soca 1) anf) of Bascsve Order No. 9 wee of 1986, eed Withdrawing Al Tax and Duy Tncentven, Subj t CersinExeption, panting the Powers of the Pea ncnives Revi Bard and fr Other Parone end 40) Section 1) nd) of Present Dre No, 1965, vated Withdrawing, Subject to Certain Condos, the Duty and Tar Prien Granted 0 Pate Busnes Beterprios andor Perens Ragged {in Ang Benue Actinty, and for Other Papo” ®) Memorandum Order No.2, ein a 1986, crtled “Expanding the Membership of the Fecal Incatves Ravin Board bay opal” S032 The XIV ofthe National Inter] Ravens Coe of 1007, as ameaded 6 herby ramunbored ae Tie XV, tread at ‘sows crm pend “se, [90] 916, Siperaiiy Clause — any teu, setae, paragraph, oF pat of this Code eal, ‘ew ediuod by any sur of complet raisin tobe Seva, ach jogment shall aot ato, impair, Invalid Gh seiner of sid Code, but aba Be contd in We aprasion the clase, sentence, pamgraph or part thereof dzcly Saved in che Suc 18. Implementing les ond Regulation, — Within ety (00) aye fom the eecvity ofthis Ac, the Secretary of Finan and the Secetary of Trade and Industry sll, pon‘oomitasont with the Comminioner of Intrnal Rei, the Board af ovesnenta, and the nvestnent promotion agen, SCM fit, — Thi et bal ak fit. any 1, 2000 ting ta ompltepuleation nthe Oficial Gast ‘a anemapaperof gente dreuaion Anarene,