RMC No. 42-2025: Circularizing the Implementing Rules and Regulations of Title XIII of Republic Act No. 8424, otherwise known as the National Internal Revenue Code of 1997, as amended by Republic Act No. 12066

Key points

1. General provisions and incentives. Part I covers scope and definition of terms. Part II covers tax and duty incentives, the period of availment, and the Strategic Investment Priority Plan.
2. Registration and availment. Part III covers registration of business enterprises, action on registration, applications for income tax-based incentives and VAT zero-rating certificates, and customs duty exemption on importation of capital equipment, raw materials, spare parts and accessories. It also covers the power of the President to grant incentives.
3. Management and FIRB. Part IV covers the Annual Tax Incentives Report and impact evaluation. Part V covers the expanded functions, composition, Technical Committee and Secretariat of the Fiscal Incentives Review Board.
4. Other provisions. Part VI covers transitory provisions, investments prior to the effectivity of RA No. 11534, prohibitions, the One-Stop Action Center, forms and certificates, misrepresentation, temporary measures for exceptional circumstances, and final provisions.

Deadlines and effectivity

• Issued April 25, 2025