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The paper presents an assessment of legislation/issuances on fiscal incentives issued in 1998 to determine their effects on the concerned sectors and revenue-generation of the government. These legislation/issuances include RA 8479 (Deregulating the Downstream Oil Industry); RA 8492 (Establishing a National Museum System); RA 8502 (Promoting the Developments of the Jewelry Manufacturing Industry); RA 8525 (Establishing a "Adopt-A-School Program"); RA 8550 (Providing for the Development, Management and Conservation of the Fisheries and Aquatic Resources, Integrating All Laws Pertinent Thereto); and Memorandum Order No. 468 (Authorizing the National Food Authority to Import 300,000 Metric Tons of Corn Duty-free.