Repealing Clause

Section 17. Repealing Clause

(a) To transfer to the Fiscal Incentives review Board the power of the Investment Promotion Agency Board to review, approve, or disapprove fiscal incentives and to mandate the Investment Promotion Agency Board to recommend to the Fiscal Incentives Review Board after a thorough review of the application, the approval or disapproval of the same, the following provisions are hereby repealed:

(1) Article 7(14) of Executive Order No. 226, series of 1987, entitled: The Omnibus Investment s Code of 1987;

(2) Section 1 (G) of Executive Order No. 458, series of 1991, entitled: “Devolving the Powers and Functions of the Board of Investments Over Investments Within the Autonomous Region in Muslim Mindanao to the Autonomous Regional Government and for Other Purposes”;

(3) Section 8 of Republic Act No. 9400, entitled: “An Act Amending Republic Act No. 7227, as Amended, Otherwise Known as the Bases Conversion and Development Act of 1992, and for Other Purposes”;

(4) Section 85(a) of Subchapter IV-B of Republic Act No. 9593, entitled: “An Act Declaring a National Policy of Tourism as an Engine of Investment, Employment, Growth and National Development, and Strengthening the Department of Tourism and its Attached Agencies to Effectively and Efficiently Implement That Policy, and Appropriating Funds Therefor”, as amended by Republic Act No. 11262; and

(5) Sections 7 and 8 of Republic Act no. 9490, entitled: “An Act Establishing the Aurora Special Economic Zone in the Province of Aurora, Creating for the Purpose the Aurora Special Economic Zone Authority, Appropriating Funds Therefor and for Other Purposes”, as amended by Republic Act No. 9490, Otherwise Known as the ‘Aurora Special economic Zone Act of 2007";

(b) The provisions of the following laws, including the tax incentives, that are inconsistent with this Act are hereby repealed:

(1) Articles 39(A), (B), (C), (D), (H), (I), (J), (L) and (M); 40, 41, 42, 61, 62, 63, 64, 65, and 67 of Executive Order No. 226, series of 1987, entitled: The Omnibus Investments Code of 1987, as amended by Republic Act No. 7918, and further amended by Republic Act No. 8756;

(2) Executive Order No. 85, series of 2019, entitled: “Reducing the Rates of Duty on Capital Equipment, Spare Parts and Accessories Imported by Board of Investments - Registered New and Expanding Enterprises”;

(3) Presidential Decree No. 66, entitled: “Creating the Export Processing Zone Authority and Revising Republic Act No. 5490”;

(4) Section 4(e) of Republic Act No. 7903, entitled: “An Act Creating a Special Economic Zone and Free Port in the City of Zamboanga Creating for This Purpose the Zamboanga City Special Economic Zone Authority, Appropriating Funds Therefor, and for Other Purposes”;

(5) Section 7 of Republic Act 9400, entitled: “An Act Amending Republic Act No. 7227, as amended, Otherwise Known as the Bases Conversion and Development Act of 1992, and for Other Purposes”;

(6) Section 4(b) of Republic Act No. 7922, entitled: “An Act Establishing a Special Economic Zone and Free Port in the Municipality of Santa Ana and the Neighboring Islands in the Municipality of Aparri, Province of Cagayan, Providing Funds Therefor, and for Other Purposes”;

(7) Sections 23 and 42 of Republic Act No. 7916, entitled: “An Act Providing for the Legal Framework and Mechanisms for the Creation, Operation, Administration, and Coordination of Special Economic Zone in the Philippines, Creating for this Purpose, the Philippine Economic Zone Authority (PEZA), and for Other Purposes” as amended by Republic Act No. 8748;

(8) Sections 4(f), 5(a), (b), (d), (e), (f), (g), (h), (j), (l), and (m), and 9 of Republic Act No. 9490, entitled: “An Act Establishing the Aurora Special Economic Zone in the Province of Aurora, Creating for the Purpose the Aurora Special Economic Zone Authority, Appropriating Funds Therefor and for Other Purposes”, as amended by Republic Act No, 10083;

(9) Sections 5, 9, and 10 of Republic Act No. 9728, entitled: “An Act Converting the Bataan Economic Zone Located in the Municipality of Mariveles, Province of Bataan, into the Freeport Area of Bataan (FAB), Creating for This Purpose the Authority of the Freeport Area of Bataan (AFAB), Appropriating Funds Therefor and for Other Purposes”;

(10) Section 16 of Republic Act No. 7844, entitled: “An Act to Develop Exports as a Key Towards the Achievement of the National Goals Towards the Year 2000”;

(11) Sections 86(a), (c), (d), (e), (f), and 88 of Republic Act No. 9593, entitled: “An Act Declaring a National Policy for Tourism as an Engine of Investment, Employment, Growth and National Development, and Strengthening the Department of Tourism and its Attached Agencies to Effectively and Efficiently Implement That Policy, and Appropriating Funds Therefor”; and

(12) Section 1(a) and (e) of Presidential Decree No. 1955, entitled: “Withdrawing, Subject to Certain Conditions, the Duty and tax Privileges Granted to Private Business Enterprises and/or Persons Engaged in Any Economic Activity, and for Other Purposes”.

(c) To expand the powers and functions of the Fiscal Incentives Review Board and enhance its membership, the provisions of the following laws that are inconsistent with this Act are hereby repealed:

(1) Sections 1(6) and 2 of Presidential Decree No. 776, entitled: “Modifying All Laws, Acts, Decrees, Orders and Ordinances, Granting Subsidies, Exemptions from Taxes, Duties, Fees, Imposts and Other Charges Under Certain Exceptions and Creating a Fiscal Incentives Board”;

(2) Section 2 of Presidential Decree No. 1931, series of 1984, entitled: “Directing the Rationalization of Duty and tax Exemption Privileges Granted to Government-Owned or Controlled Corporations and All Other Units of Government”;

(3) Section 1(c) and (d) of Executive Order No. 93, series of 1986, entitled: “Withdrawing All Tax and Duty Incentives, Subject to Certain Exceptions, Expanding the Powers of the Fiscal Incentives Review Board and for Other Purposes”; and

(4) Memorandum Order No. 23, series of 1986, entitled: “Expanding the Membership of the Fiscal Incentives Review Board (FIRB)”.

(d) The provisions of the following laws on the Investment Priorities Plan that are inconsistent with the provisions of this Act are hereby repealed:

(1) Articles 7(1), 22, 26, 27, 28, 29, 30, 31 and 32 of Executive Order No. 226, series of 1987, entitled: The Omnibus Investments Code of 1987, as amended; and

(2) Sections 2 and 3 of Executive Order No. 458, series of 1991, entitled: “Devolving the Powers and Functions of the Board of Investments Over Investments Within the Autonomous Region in Muslim Mindanao to the Autonomous Regional Government and for Other Purposes”.

(e) Sections 4, 5, 6 and 7 of Republic Act No. 10708, entitled: “An Act Enhancing Transparency in the Management and Accounting of Tax Incentives Administered by Investment Promotion Agencies”, are also repealed for being inconsistent with this Act.ℒαwρhi৷

(f) Article 7(11) of Executive Order No. 226, series of 1987, entitled: The Omnibus Investment Code of 1987.