Summary
RMC No. 15-2023 publishes BOI Memorandum Circular No. 2023-001, issued under Board Resolution Number 02-01, Series of 2023, on logistic services as Activities in Support to Exporters under the 2022 Strategic Investment Priority Plan (SIPP).
Key points
- Coverage. The SIPP listing covers Ecozone Logistics Service Enterprises (ELSEs) type 3 or a combination of both. This follows the export enterprise definition in Section 293(E) of the CREATE Act.
- Qualifying activities. These are setting up a warehouse storage facility, and importing or buying locally or from PEZA registered enterprises goods for resale or for packing, cutting, altering or kitting for export.
- Export enterprise condition. Such integrated ELSEs are considered export enterprises, provided they render at least 70% of their output or services to another registered export enterprise.
Who is affected
- Ecozone Logistics Service Enterprises (ELSEs) type 3 or combination of both
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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