RR No. 25-2025: Suspends the Implementation of the Requirement to Post a Bond under Section 160 of the National Internal Revenue Code of 1997, as Amended, for Importers and Manufacturers of Petroleum Products

Key points

1. Temporary suspension. Posting of a Section 160 bond for importing petroleum products or producing them in local refineries is temporarily suspended, subject to four conditions.
2. Conditions. The importer or manufacturer is duly registered with the BIR and BOC and has a record of substantial compliance with tax laws and customs regulations. The importer secures an Authority to Release Imported Goods (ATRIG) from the BIR through electronic filing via the Philippine National Single Window before release from customs or withdrawal from local refineries. The importer submits a monthly report of covered importations, with quantities, invoice values and tax payments, to the BIR and BOC.
3. Duration. The suspension lasts until the Anti-Red Tape Authority decides if amendments to Section 160 need to be proposed, or until a necessity arises from a change in behavior of industry players.
4. Monitoring and penalties. The BIR and BOC will set up control and monitoring mechanisms to ensure timely payment and prevent abuse. Non-compliance is subject to penalties under existing laws and regulations.

Who is affected

• Importers and manufacturers of petroleum products

Deadlines and effectivity

• Suspension until the Anti-Red Tape Authority decides on possible amendments to Section 160, or a necessity arises