Summary
RMC No. 28-2022 prescribes the guidelines for submitting the Certificate of Entitlement to Tax Incentives (CETI) under RA No. 11534 (CREATE Law).
Key points
- Applying for the CETI. Under Section 3, Rule 8 of the CREATE IRR, all Registered Business Enterprises (RBEs) apply for a CETI with their Investment Promotion Agency before filing the Annual Income Tax Return (AITR). The CETI is then attached to the AITR filed with the BIR, as Section 4, Rule 8 provides.
- Requirement for incentives. The CETI is required of all RBEs to avail of the Income Tax Holiday or preferential rate under the CREATE Law.
- Repeal. This repeals the provisions of RMC No. 14-2012, which required submission of the Certificate for Entitlement to Income Tax Holiday (now CETI) within thirty (30) days from filing of the RBE’s AITR.
Who is affected
- Registered Business Enterprises (RBEs)
Deadlines and effectivity
- CETI applied for before filing of the AITR
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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