The subsidies, approved as of May 21, 2025, covered 10 applications for fiscal years 2024 and 2025.
A tax subsidy means the national government shoulders the taxes and duties that state-run agencies would typically pay. This enables them to redirect their financial resources toward fulfilling their core mandates more effectively.
Finance Secretary Ralph G. Recto, who is also FIRB chair, said the tax relief measure aligns with President Ferdinand R. Marcos Jr.'s directive to provide more responsive and efficient services to the public. He emphasized that the subsidies are designed to accelerate and expand the reach of government programs.
Under Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, the FIRB is authorized to grant tax subsidies to government-owned and -controlled corporations (GOCCs), government instrumentalities, state universities and colleges (SUCs), and government commissaries.
According to the FIRB, all agencies whose applications were approved have already demonstrated full utilization of their subsidies, based on the Special Allotment Release Orders (SAROs) issued by the Department of Budget and Management.
For 2024, tax subsidies were granted to the following:
Manila International Airport Authority (MIAA): ₱7.5 billion
National Power Corp. (NPC): ₱6.0 billion
Philippine Deposit Insurance Corp. (PDIC): ₱4.5 billion
National Transmission Corp. (TransCo): ₱2.0 billion
Armed Forces of the Philippines Commissary and Exchange Service (AFPCES): ₱305 million
Bureau of the Treasury (BTr): ₱223 million
UP National Institute of Physics: ₱6.6 million
For 2025, the FIRB approved the following:
Bureau of the Treasury (BTr): ₱223.2 million
AFPCES: ₱58.5 million
The FIRB’s Technical Committee reviewed and recommended the approval of each application, ensuring the subsidies are aligned with institutional mandates and properly implemented. —Ed: Corrie S. Narisma
