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RMC No. 30-2017: Circularizes the additional list of Personal Equity Retirement Account (PERA) Unit Investment Trust Funds (UITFs) duly approved by the Bangko Sentral ng Pilipinas

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Summary

RMC No. 30-2017 circularizes an additional list of Personal Equity Retirement Account (PERA) Unit Investment Trust Funds (UITFs) approved by the Bangko Sentral ng Pilipinas (BSP), and states the income tax exemption for PERA investments.

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Key points

  1. Added funds. Three Peso funds of Metropolitan Bank and Trust Company are listed: Metrobank PERA Money Market Fund, Metrobank PERA Bond Fund and Metrobank PERA Equity Fund. Each has a BSP approval date of 3/28/2017.
  2. Income tax exemption. Only income earned from investing and re-investing PERA assets in the listed products is exempt from Income Taxes. The basis is Rule 11 of the Rules and Regulations Implementing the PERA Act of 2008 and Section 9 of Revenue Regulations No. 17-2011.
  3. Government securities. Income from investing and re-investing PERA assets in government securities is likewise exempt under the same provisions.

Who is affected

  • PERA investors in the listed Metrobank funds

Deadlines and effectivity

  • BSP approval date of the listed funds: 3/28/2017

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (5)

Cites, Cited by CollapseExpand
CitesRMC No. 131-2016RR No. 17-2011
Cited byRMC No. 111-2026RMC No. 3-2026RMC No. 74-2026

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.