WHEREAS, the proceeds from EVAT, concededly a major source of much needed government revenues, shall be strictly allocated and utilized for Fiscal year 2006 for deficit reduction purposes and implementation of priority social services and infrastructure projects;

WHEREAS, the Government is committed to ensure transparent and efficient utilization of EVAT proceeds to enhance public confidence in the implementation of tax measures;

WHEREAS, the Department of Budget and Management has identified proposed projects to be financed by the EVAT;

WHEREAS, to ensure transparency and accountability, the following reporting arrangement is hereby ordered to be implemented.

NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the Republic of the Philippines, do hereby order:

 

SECTION 1. Creation of Task Force. The DBCC is hereby directed to create an EVAT Monitoring Task Force to be composed of representatives from the Department of Finance, the Department of Budget and Management, the National Economic and Development Authority, the Department of Education, the Department of Health and the Department of Public Works and Highways.

 

SECTION 2. Functions of the Task Force. - The Task Force shall perform the following functions:

 

1. Prepare reporting guidelines to ensure periodic reporting on EVAT proceeds and its utilization;

2. Monitor and coordinate the implementation of EVAT-funded projects to secure compliance with reporting requirements and to see to it that subsequent cash releases shall be made only upon proper accounting of EVAT proceeds; and

3. Perform such functions as may be necessary to implement this Order.

 

SECTION 3. Submission of Reports. - The Department of Budget and Management shall submit semestral reports to the President on the status of disbursements and utilization of EVAT proceeds.

 

SECTION 4. Government Support. - All agencies, offices and instrumentalities of the government shall provide the necessary information and technical assistance in the implementation of this Order.

 

SECTION 5. Repealing Clause. - All executive orders, administrative orders, proclamations and other executive issuances, as well as rules and regulations or parts thereof, that are inconsistent with this Order are hereby repealed or modified accordingly.

 

SECTION 6. Effectivity. This Order shall take effect immediately.

Adopted: 14 Feb. 2006

(SGD.) GLORIA MACAPAGAL ARROYO

By the President:

(SGD.) EDUARDO R. ERMITA
Executive Secretary