Summary
RMC No. 25-2021 circularizes an additional Personal Equity Retirement Account (PERA) Unit Investment Trust Fund (UITF) approved by the Bangko Sentral ng Pilipinas.
Key points
- Approved fund. The fund is the PNB PERA Bond Fund of the Philippine National Bank, a Bond, Medium Term PERA Bond Fund denominated in Philippine Peso. BSP approval was given on January 21, 2021.
- Income tax exemption. Under Rule 11 of the Rules and Regulations Implementing the PERA Act 2008 and Section 9 of Revenue Regulations No. 17-2011, only income from investing and re-investing PERA assets in duly accredited or approved PERA investment products is exempt from Income Taxes. Income from investing PERA assets in government securities is also exempt.
Who is affected
- PERA contributors investing in PERA products
Deadlines and effectivity
- BSP approval date: January 21, 2021
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.