RMC No. 142-2022: Publishes the full text of DTI Memorandum Circular No. 22-19, s. 2022 prescribing the guidelines on the Registration with the Board of Investments (BOI) of Existing Registered Business Enterprises (RBEs) in the Information Technology Business Process Management (IT-BPM) Sector

Key points

1. Who may register. RBEs with remaining tax incentives under Section 311 of the NIRC, or approved incentives on or before September 14, 2022 under the CREATE Act with their IPA, may choose BOI registration until December 31, 2022.
2. IPA endorsement and fee. The IPA’s endorsement counts as certification of no objection and good standing. After endorsement and payment of the ₱2,250.00 BOI fee, the BOI ISIS issues the certificate of registration showing the remaining incentives and period of entitlement.
3. Annotations and administration. The BOI and IPA certificates annotate each other. The IPA keeps administering the remaining tax incentives, and RBEs apply for availment with the IPA.
4. Other incentives and lapse. Other incentives and non-fiscal incentives remain, as long as the IPA registration is maintained. After the remaining incentives lapse, there are no additional incentives unless the activity qualifies as a new investment or qualified expansion under the Strategic Investment Priority Plan, with a separate registration.

Who is affected

• IT-BPM Registered Business Enterprises with remaining incentives
• Investment Promotion Agencies

Deadlines and effectivity

• Option to register with BOI until December 31, 2022
• Incentives approved on or before September 14, 2022