Summary
RMC No. 14-2012 revokes the Memoranda of Agreement between the BIR and the BOI, BOI-ARMM and PEZA, because they limited the BIR’s authority to investigate returns of enterprises under those bodies.
Key points
- Reason for revocation. The MOAs limited the BIR’s authority to investigate returns filed by enterprises under BOI, BOI-ARMM and PEZA. These provisions are contrary to law.
- Same rules as regular taxpayers. BOI, BOI-ARMM and PEZA registered enterprises are subject to the same rules and regulations as regular taxpayers. They must submit properly accomplished requirements and documents within the time-frame prescribed by pertinent issuances.
- ITH certificate. These enterprises must submit their certificate for entitlement to ITH or preferential treatment within thirty (30) days from filing of their ITRs. This is among the requirements for enjoying ITH or preferential tax privileges.
Who is affected
- BOI, BOI-ARMM and PEZA registered enterprises
Deadlines and effectivity
- Entitlement certificate: within thirty (30) days from filing of ITR
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.