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RMC No. 11-2005: Publishes the full text of DOF Memorandum on the suspension of Revenue Regulations No. 2-2005

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Summary

RMC No. 11-2005 publishes the DOF Memorandum (CVP-0333-DOF/2005) dated March 18, 2005 suspending the effectivity of RR No. 2-2005.

Key points

  1. Reason for review. The Subic Bay Metropolitan Authority (SBMA), business enterprises located there and local business chambers raised issues on the reasonableness of RR No. 2-2005.
  2. Review assigned. Undersecretary Emmanuel P. Bonoan and Deputy Commissioner Kim S. Jacinto-Henares were instructed to review the concerns and, if necessary, propose changes to the regulations.
  3. Suspension. Pending the review, the effectivity of RR No. 2-2005 is temporarily suspended.

Who is affected

  • Enterprises covered by RR No. 2-2005, including those in the Subic Bay area

Deadlines and effectivity

  • RR No. 2-2005 suspended pending review

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

Related issuances

CitesRR No. 16-99RR No. 2-2005

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.