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RMC No. 124-2024: Circularizing ERC Resolution No. 10, Series of 2023, titled “A Resolution Suspending the Inclusion of the National Franchise Tax of the National Grid Corporation of the Philippines in the Total Monthly Transmission Cost Billing of Distribution Utilities”

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Summary

RMC No. 124-2024 circularizes ERC Resolution No. 10, Series of 2023, which suspends including the National Franchise Tax of the National Grid Corporation of the Philippines (NGCP) in the total monthly transmission cost billing of Distribution Utilities.

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Key points

  1. Suspended pass-on. The Energy Regulatory Commission suspends the passing-on of the 3% National Franchise Tax by NGCP to its customers.
  2. Related resolution. The effectivity of Resolution No. 07, Series of 2011 is likewise suspended.
  3. Effectivity. The Resolution takes effect immediately after its publication in a newspaper of general circulation in the country.

Who is affected

  • NGCP
  • Distribution Utilities

Deadlines and effectivity

  • Effective immediately after publication in a newspaper of general circulation

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

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