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, the establishment under Administrative Order No. 266, series of 1992, of the One-Stop Shop Inter-Agency Tax Credit and Duty Drawback Center (CENTER) in the Department of Finance has greatly enhanced and facilitated the processing the release of claims for tax credits/duty drawbacks by export-oriented firms;

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.

SECTION 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.

SECTION 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.

SECTION 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guidelines, and regulations or portions thereof, which are in conflict with this Administrative Order are hereby repealed or modified accordingly.

SECTION 5.  Effectivity. –  This Administrative Order shall take effect fifteen (15) days after publication in the Official Gazette or in a newspaper of general circulation.

Adopted: 19 July 1994

(sgd.) FIDEL V. Ramos
President