Administration, Implementation and Monitoring of Incentives.
Section 21
SEC. 21. Administration, Implementation and Monitoring of Incentives. - In the interest of enhancing transparency in the management and accounting of tax incentives in the BuZ, and ensuring the proper administration, enforcement, implementation and monitoring of tax incentives, the BEZA shall comply with the provisions of Republic Act No. 10708, otherwise known as "The Tax Incentives Management and Transparency Act (TIMTA)" and its implementing rules and regulations; Republic Act No. 11534 and its implementing rules and regulations; and other rules, regulations, and issuances made by the Fiscal Incentives Review Board, pursuant to Chapter III, Title XIII of Republic Act No. 8424, as amended. The BOC shall set up and establish a customs-controlled area outside the premises of the BuZ to facilitate payment of duties and taxes on good entering the Philippine customs territory: Provided, That notwithstanding the limitations on this Act, the BEZA and the BOC may coordinate and jointly implement measures on border protection.