[ GTEB CIRCULAR NO. 8, S. OF 1999, June 07, 1999 ]
COLLECTION OF PENALTIES ON THE 1999 UNUTILIZED EXPORT AUTHORIZATION
Beginning June 1999, the GTEB shall compute on a quarterly basis,
firms' utilization of awarded export authorizations (EA) for the purpose
of computing for the penalties on the unutilized portion. This is
GTEB's way of making it easy for the companies to pay and avoid the
piling up of accounts receivables.
Please be guided accordingly.
Adopted: 07 June 1999
(SGD.) FELICITAS R. AGONCILLO-REYES Executive Director
Source: Supreme Court E-Library
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