THE Senate approved Wednesday the bicameral conference committee report on the proposed Tax Incentives Management and Transparency Act (Timta).
The proposed Timta seeks to promote greater transparency and accountability in the grant and administration of tax incentives to business entities, individuals, and corporations.
The measure mandates the Department of Finance to maintain data and information related to the tax incentives claim of registered business entities, along with the actual amount of tax and duty incentives granted that are submitted by the Bureau of Internal Revenue and the Bureau of Customs, under a single database for monitoring and analysis.
The Senate also passed on third and final reading a bill mandating the establishment of three schools in different places, the separation of 18 school annexes all over the country into dependent schools, and the conversion of two integrated schools.
The three new national high schools will be established in Dumalinao, Zamboanga del Sur; Libagon, Southern Leyte; and Navotas, Manila, respectively.
On the other hand, some 18 high school annexes that would be separated into independent schools are Kabugao Agro-Industrial High School –Lenneng Annex in Apayao; Limbaan National High School – Sta. Fe extension in Davao del Norte; Tukuran Technical-Vocation High School – Tabuan Annex in Zamboanga del Sur; Compostela National High School – Corazon C. Aquino High School Annex in Compostela Valley; Luna National High School – Tumog Annex in Apayao; General Emilio Aguinaldo National High School Annex in Cavite; San Jose National High School – Daniel C. Mantos Annex in Zamboanga del Sur; Kalinga National High School – Salegseg Annex in Kalinga; Bacungan National High School – Palandok Annex in Zamboanga del Norte; Alfonso Castañeda National High School – Abuyo Annex in Nueva Vizcaya; Sta. Marcela National High School – Conseulo Annex in Apayao; Bacungan National High School – Talinga Annex in Zamboanga del Norte; Halapitan National High School – Little Baguio Annex in Bukidnon; Libertad National High School – Colongulo Annex in South Cotabato; Midsalip National High School – Buloron Annex in Zamboanga del Sur; Silae National High School – St. Peter Annex in Bukidnon; Pio Dalim Memorial School of Arts and Trades – Sta. Filomena Annex in Apayao; and Bacungan National High School – Tinuyop Annex in Zamboanga del Norte.
Two schools in Iloilo City, the Andres Bonifacio Elementary School in Barangay Jalandoni-Wilson and Bakhaw Elementary School in Barangay Bakhaw, will now be known as the Andres Bonifacio Integrated School and Bakhaw Integrated School, respectively.
The Senate, which suspended its sessions Thursday, will resume its session on November 3.
This November, Senate President Franklin Drilon said the Senate's priorities are the substitute bill to the proposed Bangsamoro Basic Law and the continuing deliberation on the proposed P3.002-trillion national budget for next year.
"We will resume debates on the (draft) Bangsamoro Basic Law when we come back in November and we will continue to work hard on it so hopefully, it will be passed in the Senate by December," the Senate Leader said.
Apart from the measures, Drilon said the Senate would continue to push for the passage of the proposed Customs Modernization and Tariff Act, the amendments to the Build-Operate-Transfer Law, and the proposed Filipino Identification Act. (Sunnex)