ADMINISTRATIVE ORDER NO. 138 STRENGTHENING THE OPERATION OF THE ONE-STOP SHOP INTER-AGENCY TAX CREDIT AND DUTY DRAWBACK CENTER FOR THE PROCESSING OF ALL TAX CREDITS AND DUTY DRAWBACKS July 19, 1994
[ ADMINISTRATIVE ORDER NO. 138, July 19, 1994 ]
STRENGTHENING THE OPERATION OF THE ONE-STOP SHOP INTER-AGENCY TAX CREDIT AND DUTY DRAWBACK CENTER FOR THE PROCESSING OF ALL TAX CREDITS AND DUTY DRAWBACKS
WHEREAS,there is still a need to further reinforce and strengthen the operation of the CENTER in support of global competitiveness;
NOW, THEREFORE, I, FIDEL V. RAMOS,President of the Philippines, by virtue of the powers vested in me by law, do hereby order the following:
SECTION 1.CENTER- The CENTER is hereby declared and made a permanent unit in the Department of Finance, and its personnel complement shall be appointed in accordance with existing Civil Service Law, rules and regulations.
SEC. 2.HARMONIZED TAX CREDITS- The CENTER is directed to institute a simplified and harmonized system of tax credits in order to facilitate trade and enhance the competitiveness of the export sector.
SEC. 3.FEES AND OTHER INCOME- Subject to budgetary laws, circulars, and regulations, income from fees and other charges collected by the CENTER shall constitute a trust fund which shall be expended exclusively in accordance with the purposes of Administrative Order No. 266, series of 1992.
SEC. 4.REPEALING CLAUSE- All orders, guidelines, and regulations or portions thereof, which are in conflict with this Administrative Order are hereby repealed or modified accordingly.
SEC. 5.EFFECTIVITY- This Administrative Order shall take effect fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation.
DONE in the City of Manila, this 19thday of July, in the year of Our Lord, nineteen hundred and ninety-four.
(Sgd.)FIDEL V. RAMOS
President of the Philippines
By the President:
(Sgd.)TEOFISTO T. GUINGONA, JR.Executive Secretary