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RMC No. 103-2022: Publishes Fiscal Incentives Review Board Resolution No. 018-22 – granting the Board of Investments authority to implement temporary measures for Registered Business Enterprises affected by typhoon Odette

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Summary

RMC No. 103-2022 publishes FIRB Resolution No. 018-22, which authorizes the Board of Investments to implement temporary measures for Registered Business Enterprises (RBEs) affected by Typhoon Odette.

Key points

  1. Measures allowed. The measures include moving the start of commercial operations and the reckoning date of the Income Tax Holiday (ITH), and deferring ITH availment.
  2. Duration and conditions. The measures last until December 21, 2022 or until Presidential Proclamation No. 1267 is lifted, whichever comes earlier. They remain subject to the terms and conditions in each RBE’s registration.

Who is affected

  • Registered Business Enterprises affected by Typhoon Odette

Deadlines and effectivity

  • Until December 21, 2022, or until Presidential Proclamation No. 1267 is lifted, whichever is earlier

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.