Section 5Sec./Art. 5

Section 7 of Republic Act No. 9490 is hereby amended to read as follows:

"Section 7. Administration, Implementation and Monitoring of Incentives. - The APECO shall be responsible for the administration and implementation of the incentives granted to its respective registered enterprises: Provided, That any incentive administration policy adopted by the BOI for registered enterprises shall be uniformly applied by the APECO.

"The following are the duties and responsibilities of the APECO in the administration of incentives:

"(A) To adopt consistent procedures of administering incentives in accordance with the guidelines established by the BOI;

"(B) To adopt and implement systems and procedures affecting trade and customs policies in accordance with the requirements established by the Department of Finance (DOF) and the BOI;

"(C) To submit information on registered enterprises to the DOF and the BOI as required by any of these agencies to ascertain consistency of investment policies and incentives, including their implementation as provided in paragraph (A) herein, and to ensure proper implementation of systems and procedures affecting trade and customs policies as provided in paragraph (B) herein. In particular, the APECO shall submit its annual tax expenditures to the DOF based on the tax incentives granted to its registered enterprises, for policy and revenue administration purposes; and

"(D) To perform all other duties and responsibilities as may be required by the President of the Philippines.

"x x x."