Summary
RMC No. 103-2024 circularizes RA No. 11999, the Bulacan Special Economic Zone and Freeport Act, which lapsed into law on June 13, 2024. It sets how Special Corporate Income Tax from registered enterprises is shared.
Key points
- Revenue sharing. The BEZA and affected LGUs share in the Special Corporate Income Tax under Title XIII of the Tax Code of 1997, as amended, from all registered business enterprises in the BEZA.
- National Government share. Forty percent (40%) goes to the National Government and is remitted directly to it. This counts as compliance with Section 284 of RA No. 7160, as amended, and is not further divided for the National Tax Allotment.
- BEZA share. Twenty percent (20%) goes to the BEZA, earmarked for infrastructure development projects set by its Board of Directors.
- LGU share. Forty percent (40%) goes to the concerned LGUs. For component cities or municipalities, the share from locators availing of RA No. 11534 incentives is divided among the Bulacan EcoZone LGUs using the Section 285 formula of RA No. 7160, as amended.
- Who collects. The locator pays the National Government share directly to the BIR. The LGUs and the BEZA collect their shares, and the BEZA remits the local government share quarterly.
Who is affected
- BEZA-registered business enterprises (locators)
- Affected LGUs
Deadlines and effectivity
- RA No. 11999 lapsed into law on June 13, 2024
- BEZA remits the local government share quarterly
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.