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RMC No. 17-2023: Publishes the full text of FIRB Advisory No. 002-2023 – Templates for the Certificate of Entitlement to Tax Incentives (CETI)

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Summary

RMC No. 17-2023 publishes FIRB Advisory No. 002-2023 on the availability of templates for the Certificate of Entitlement to Tax Incentives (CETI).

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Key points

  1. Templates by project type. Annex A covers projects under RA No. 11534 (CREATE Act), with no change. Annex B covers projects registered before the CREATE Act, and Annex C covers Renewable Energy Projects under RA No. 9513, both with minor changes in red font.
  2. Use by IPAs. All Investment Promotion Agencies must use the updated templates beginning March 1, 2023. Earlier adoption is highly encouraged.
  3. Earlier CETIs. CETIs issued on or before February 28, 2023 under the previous templates circulated March 23, 2022 stay valid for the corresponding fiscal or calendar year. This holds unless the IPA or FIRB cancels, suspends or withdraws them after due process.

Who is affected

  • Investment Promotion Agencies
  • Registered Business Enterprises with CREATE, pre-CREATE and Renewable Energy projects

Deadlines and effectivity

  • Mandatory use of updated templates: beginning March 1, 2023
  • Earlier CETIs: valid if issued on or before February 28, 2023

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

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.