Bill Type
Congress Name
Long Title
AN ACT RESTRUCTURING THE FISCAL INCENTIVES UNDER EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987, AS AMENDED, AMENDING PERTINENT ARTICLES OF THE CODE, PROVIDING FOR PENALTIES IN VIOLATION THEREOF, AND FOR OTHER PURPOSES
Date filed
July 2, 2001
Scope
Urgent Bill
No
Legislative History
| House Bill/Resolution NO. House Bill No. 256, 12th Congress of the Republic | |
| FULL TITLE : AN ACT RESTRUCTURING THE FISCAL INCENTIVES UNDER EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987, AS AMENDED, AMENDING PERTINENT ARTICLES OF THE CODE, PROVIDING FOR PENALTIES IN VIOLATION THEREOF, AND FOR OTHER PURPOSES | |
| ABSTRACT : This proposed legislation on the rationalization of investment incentives will pave the way for an incentive system that is consolidated and highly focused, cost-effective in promoting investments time-bound and simple to administer. This rationalization is necessary in order to meet, among others, the following objectives: (1) to address the intense competition for foreign direct investment in the Asian region; (2) to bring the country's incentive schemes in line with those in the ASEAN; and(3) to achieve harmony with the WTO agreements , particularly on subsidies and countervailing measures. | |
| PRINCIPAL AUTHOR/S : LAPUS, JESLI A. | |
| DATE FILED : 2001-07-02 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Zialcita (021 ) | 2. Yumul-hermida (069 ) |
| 3. Chatto (077 ) | 4. Syjuco (041 ) |
| ADMINISTRATION BILL? No | |
| URGENT BILL? No | |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITTEE ACTION: jt. ref'ls as per J.17;p.15( Aug. 28,2001) | |
| MOTHER BILL: House Bill No. 6011, 12th Congress of the Republic | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2001-07-24 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON TRADE AND INDUSTRY, ECONOMIC AFFAIRS |
Abstract
"This proposed legislation on the rationalization of investment incentives will pave the way for an incentive system that is consolidated and highly focused, cost-effective in promoting investments time-bound and simple to administer. This rationalization is necessary in order to meet, among others, the following objectives: (1) to address the intense competition for foreign direct investment in the Asian region; (2) to bring the country's incentive schemes in line with those in the ASEAN; and(3) to achieve harmony with the WTO agreements , particularly on subsidies and countervailing measures."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.