beginning; containing an area of Fifty Four Thousand Eight Hundred Eighty Nine (54, 889) Square Meters. All points referred to are indicated on the plan and are marked on the ground by P.S. cyl. conc. mons. 15 x 40 cms.; bearings true; date of orig. survey, June 1905-April 1908; and that of the conc.-subd. survey, 05 Jan. 29 May 2004 and was approved on 03 June 2005.

IN WITNESS THEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed hereto.

Lincud" happened on 28 October 1898 in the Municipality of Dingle, Province of Iloilo;

WHEREAS, in order to give the people of the Municipality of Dingle, Province of Iloilo, the full opportunity to celebrate and participate in the occasion, it is but fitting and proper to declare 28 October 2011 as a special non-working day.

NOW, THEREFORE, I, PAQUITO N. OCHOA, JR., Executive Secretary, by authority of His Excellency, BENIGNO S. AQUINO III, do hereby declare Friday, October 28, 2011, as special (non-working) day in the Municipality of Dingle, Province of Iloilo.

In WITNESS WHEREOF, I have hereunto set my hand and caused the seal of the Republic of the Philippines to be affixed.

DONE, in the City of Manila, this 20th day of September, in the year of Our Lord, Two Thousand and Eleven.

By the authority of the President: (Sgd.) PAQUITO N. OCHOA, JR. Executive Secretary

[SEAL]

MALACAÑANG

MANILA

PROCLAMATION NO. 254

DECLARING TUESDAY, 4 OCTOBER 2011, AS A SPECIAL (NON-WORKING) DAY IN THE MUNICIPALITY OF INFANTA, PROVINCE OF PANGASINAN

WHEREAS, Tuesday, 4 October 2011, marks the Foundation Day anniversary of the Municipality of Infanta, Province of Pangasinan;

WHEREAS, in order to give the people of the Municipality of Infanta, Pangasinan the opportunity to celebrate and participate in the occasion, it is but fitting and proper to declare 4 October 2011, as a special nonworking day.

NOW, THEREFORE, I, PAQUITO N. OCHOA, JR., Executive Secretary, by authority of His

MALACAÑANG MANILA

EXECUTIVE ORDER No. 55

DIRECTING THE INTEGRATION AND AUTOMATION OF GOVERNMENT FINANCIAL MANAGEMENT SYSTEMS

WHEREAS, it is the policy of the State to adopt and implement full public disclosure if all its transactions involving public interest and recognize the right of the people to information on matter of public concern as embodied under Section 28, Article II and Section 7, Article III of the 1987 Constitution;

WHEREAS, the present administration subscribes to the emerging global thrust towards open government and greater budget transparency and accords the highest priority to public sector initiatives that promote transparency, accountability and good governance as contained in the President's Social Contract with the Filipino people;

a

WHEREAS, the development of government integrated financial management information systems (GIFMIS) will facilitate the generation of vital information on any and all aspects of government financial transactions that can be made accessible to the public through information technology, subject to existing laws, and greater participation of civil society organizations in fiscal governance, as well as the effective and efficient delivery of public services;

WHEREAS, the said integrated system will, among others, allow greater financial management and control at the oversight and agency levels, ensure stricter compliance of the budget to appropriation laws and corresponding rules and regulations, significantly improve Treasury cash management, and facilitate keeping of general accounts of government and management reporting at various levels of government;

WHEREAS, in recognition of the critical need for such system in the government, a Memorandum of Agreement (MOA) was entered into by and among the key oversight agencies of the government namely, the Commission on Audit (COA), Department

of Budget and Management (DBM) and the Bureau of the Treasury (BTr) / Department of Finance (DOF) which created the Steering Committee on Cooperation to Foster the Development of a GIFMIS and implement a Public Financial Management (PFM) Reforms Roadmap;

WHEREAS, the GIFMIS Committee has already developed the broad strategies as embodied in a PFM Reforms Roadmap and started to draw up preliminary action plans for the implementation of PFM reforms in the government; and,

WHEREAS, the GIFMIS Committee; which is tasked not only to undertake development of GIFMIS but also to implement the PFM Reforms Roadmap as well as to operationalize a Treasury Single Account (TSA), shall be more aptly called and hereinafter referred to as the PFM Committee.

NOW, THEREFORE, I, BENIGNO S. AQUINO III, President of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. Automation of the Financial Management Systems of the Key Oversight Agencies. The financial management systems of the three (3) key oversight agencies, i.e., COA, DBM and DOF, shall be automated to the extent necessary and feasible and fully integrated to serve as the backbone of the financial reporting system of the government.

SEC. 2. Deliverables of the PFM Committee. - The PFM Committee shall carry out all necessary activities for the completion and installation of the following PFM systems within the term of the current

administration:

a) The GIFMIS which shall enable realtime, online accounting, monitoring and control of obligations and disbursements and their direct links to cash management for more effective financial control and accountability;

b) A TSA that provides BTr a more effective way of cash management and rationalizing agency bank accounts, a more economical system for cash disbursements which will remove revenue and expenditure floats, and a more efficient reconciliation of bank balances;

c) An efficient budget release system with predictable and streamlined allotment and cash release programs throughout the year to support the operations of implementing agencies based on reliable cash forecasting

and programming by DBM and BTr;

d) Regular in-year reporting system on the status of budget execution, and timely year-end audit reporting of agency financial and physical operations which will be used in the budget preparation process, the Congressional debate on agency budgets and performance, and the public's participation in the budget process; and,

e) Systematic recording and reporting of all liabilities of government entities including real and contingent liabilities to enable national government to manage its financial exposure.

SEC. 3. Authority and Functions of the PFM Committee.-The PFM Committee shall have the following authority and functions:

a) Devise a five-year plan for the development and implementation of an integrated financial management information system that links national government agencies with the COA, DBM and BTr to enable the generation of comprehensive, accurate, reliable and timely consolidated financial status reports for the oversight and the implementing agencies;

b) Oversee, coordinate and develop integration, simplification and harmonization of the government's financial management processes and information systems that shall cover all transactions of government in a phased and systematic manner, and which shall apply uniformly to all government oversight and

implementing agencies to generate reliable and accurate reports in a timely manner;

c) Develop and oversee the implementation of the Philippine PFM Reforms Roadmap;

d) Shepherd and champion the passage of supporting legislation needed in Congress;

e) Coordinate budgetary and donor funding to support PFM reform efforts and the GIFMIS;

f) Provide a comprehensive report every six (6) months on all project milestone activities and its findings and recommendations to the Office of the President through the Development Budget Coordination Committee (DBCC); and,

g) Issue the necessary implementing policies, mechanisms and procedures to carry out the mandate of the PFM Committee.

SEC. 4. Coverage. All departments, bureaus, offices or agencies of the national government, shall give full-support and collaborate with the PFM Committee for the smooth and successful formulation and implementation of the PFM reforms, especially the TSA and the GIFMIS projects.

SEC. 5. Funding. -The PFM Committee shall develop a multi-year expenditure plan for the implementation of the PFM Reforms Roadmap, TSA and GIFMIS. The DBM is hereby authorized to provide funds for the requirements of the projects.

SEC. 6. Separability Clause. If any provision of this Executive Order is declared invalid or unconstitutional, the other provisions not affected thereby shall remain valid and subsisting.

SEC. 7. Repealing Clause. All orders, rules, regulations, and issuances, or parts thereof, which are inconsistent with this Executive Order, are hereby repealed, amended, or modified accordingly.

SEC. 8. Effectivity. - This Executive Order shall take effect immediately upon publication in a newspaper of general circulation.

DONE, in the City of Manila, this 6th day of September, in the year of Our Lord, Two Thousand and Eleven.

(Sgd.) BENIGNO SIMEON AQUINO, III President of the Philippines

By the President:

(Sgd.) PAQUITO N. OCHOA, JR. Executive Secretary

MALACAÑANG MANILA

EXECUTIVE ORDER NO. 56

AUTHORIZING THE SECRETARY OF FINANCE
TO ORDER THE OPENING OF INCOME TAX
RETURNS OF SPECIFIC TAXPAYERS FOR
INSPECTION TO EFFECTIVELY IMPLEMENT
REPUBLIC
ACT NUMBER 10021,
OTHERWISE KNOWN AS THE "EXCHANGE
OF INFORMATION ON TAX MATTERS ACT
OF 2009"

WHEREAS, it is declared as the policy of the State to promote and pursue a tax environment that contributes in sustaining favorable international investment climate and instills confidence in the adequacy and capacity of the country's tax administration to comply with its commitments under existing international conventions or agreements on tax matters;

WHEREAS, Republic Act (RA) No. 10021, otherwise known as the "Exchange of Information on Tax Matters Act of 2009" was enacted on 8 March 2010 in order for the government to comply with or commit to the internationally agreed tax standards required for the exchange of tax information with its tax treaty partners to help combat international tax evasion and avoidance and to help address tax concerns that affect international trade and investment;

WHEREAS, Section 4 of RA No. 10021 amended Section 71 of RA No. 8424, otherwise known as the "National Internal Revenue Code of 1997," by providing that incomes tax returns of specific taxpayers subject of a request for exchange of information by a foreign tax authority pursuant to an international convention or agreement on tax matters to which the Philippines is a signatory or a party thereof, shall be open to inspection upon order of the President subject to rules and regulations as may be prescribed by the Secretary of Finance, upon the recommendation of the Commissioner of Internal Revenue;

WHEREAS, with the enactment and approval of RA No. 10021, the government expects to receive numerous requests for exchange of information from foreign tax authorities involving, inter alia, income tax returns of specific taxpayers.

WHEREAS, under the doctrine of qualified political agency, except in cases when the President is required by the Constitution or law to act personally or the exigencies of the situation demand that he acts personally, the multifarious executive and administrative functions of the President are performed by and through the executive departments, and the acts of the Secretaries of such departments, performed and promulgated in the regular course of business, are presumptively the acts of the President;

WHEREAS, RA No. 10021 does not require that the order to open for inspection of the income tax returns or specific taxpayers subject of a request for exchange of information by a foreign tax authority be done personally by the President; and,

WHEREAS, to efficiently carry out the purposes and objectives of RA No. 10021 and in order for the President to attend to more urgent and pressing concerns of the nation, there is a need to delegate to the Secretary of Finance the Authority to order