Tax Incentives. – The Parliament may grant tax exemptions and incentives under this Organic Law upon a vote of majority of all its member: Provided, That these tax exemptions and incentives shall not diminish national revenues: Provided, further, That he grant of tax exemptions and incentives administer by the Regional Board of Investments of the Autonomous Region in Muslim Mindanao as provided for in Executive Order No. 458, Series of 1991, in relation to Executive Order No. 226, Series of 1987, otherwise known as the “Omnibus Investments Code,” shall continue to apply.
Nothing in this Organic Law shall be construed to alter, diminish, or repeal the incentives already granted and administered by investment promotion agencies of the National Government to existing locators or registered business entities.
