Bill Type
Congress Name
Long Title
AN ACT HARMONIZING AND RATIONALIZING THE ADMINISTRATION AND GRANT OF FISCAL AND NON-FISCAL INCENTIVES, REPEALING FOR THIS PURPOSE EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987
Text as filed (link)
Date filed
July 1, 2004
Scope
Legislative History
| House Bill/Resolution NO. HB00271 | |
| FULL TITLE : AN ACT HARMONIZING AND RATIONALIZING THE ADMINISTRATION AND GRANT OF FISCAL AND NON-FISCAL INCENTIVES, REPEALING FOR THIS PURPOSE EXECUTIVE ORDER NO. 226, OTHERWISE KNOWN AS THE OMNIBUS INVESTMENTS CODE OF 1987 | |
| SHORT TITLE : The Investments and Incentives Code of the Philippines | |
| ABSTRACT : "The Investments and Incentives Code of the Philippines". The proposed bill seeks to: a) integrate and consolidate the various laws granting incentives into an Omnibus Investments Code; b) set clear guidelines in the selection of investment champions eg. high export potential, etc.; c) set a cap or ceiling on incentives that the government may offer; d) mandate the Board of Investments to oversee the implementation of the Code; e) provide for a harmonized process for application, registration and validation of tax credits; and f) require double entry accounting for transparency purposes. | |
| PRINCIPAL AUTHOR/S : DE VENECIA, JOSE JR. C. | |
| DATE FILED : 2004-07-01 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Lacson (002 ) | 2. Arroyo (006 ) |
| 3. Badelles (012 ) | 4. Marcos (012 ) |
| 5. Mangudadatu (014 ) | 6. Abayon (015 ) |
| ACTIONS TAKEN BY THE COMMITTEE | |
| COMMITEE HEARINGS/ACTIONS: | |
| 1. Scheduled for first meeting/hearing on 2004-09-20 | |
| 2. Scheduled for first meeting/hearing on 2004-09-20 | |
| 3. Under deliberation by the Mother Committee on 2004-09-21 | |
| 4. Under deliberation by the Mother Committee on 2004-09-21 | |
| 5. Under deliberation by the Mother Committee on 2004-09-22 | |
| 6. Under deliberation by the Mother Committee on 2004-09-22 | |
| 7. Under deliberation by the Mother Committee on 2004-10-26 | |
| 8. Under deliberation by the Mother Committee on 2004-10-26 | |
| 9. Under deliberation by the Mother Committee on 2004-11-09 | |
| 10. Under deliberation by the Mother Committee on 2004-11-09 | |
| 11. Under deliberation by the Mother Committee on 2004-11-10 | |
| 12. Under deliberation by the Mother Committee on 2004-11-10 | |
| 13. Approved by the Committee on 2004-11-16 | |
| 14. Approved by the Committee on 2004-11-16 | |
| 15. Committee Report filed on 2004-11-17 | |
| 16. Committee Report filed on 2004-11-18 | |
| MOTHER BILL: HB03295 | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2004-11-08 | |
| SECONDARILY REFERRED TO THE COMMITTEE(S) ON TRADE AND INDUSTRY | |
| PREVIOUS COMMITTEE REFERRALS :PRIMARILY REFERRED TO TRADE AND INDUSTRY on 2004-07-27;SECONDARILY REFERRED TO WAYS AND MEANS on 2004-07-27; |
Abstract
"The Investments and Incentives Code of the Philippines". The proposed bill seeks to: a) integrate and consolidate the various laws granting incentives into an Omnibus Investments Code; b) set clear guidelines in the selection of investment champions eg. high export potential, etc.; c) set a cap or ceiling on incentives that the government may offer; d) mandate the Board of Investments to oversee the implementation of the Code; e) provide for a harmonized process for application, registration and validation of tax credits; and f) require double entry accounting for transparency purposes.'
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.