Section 7Sec./Art. 7

Administration, Implementation and Monitoring of Incentives. - The ASEZA 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 ASEZA.

The following are the duties and responsibilities of the ASEZA 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, inc1uding 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; and

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

For proper monitoring, the BOI shall create a single database of all incentives provided by all incentives granting agencies, including the ASEZA, and all information thereto. Double entry accounting shall be done by the BOI in recording all incentives granted by the government for transparency purposes.