Summary
RMC No. 52-2019 circularizes the 2019 List of Microfinance NGOs with MNRC Accreditation and the list of Microfinance NGOs accredited in 2018 but valid until March 31, 2019, as of April 1, 2019.
Key points
- Validity of accreditation. The Certificate of Accreditation is valid for three (3) years from the date of issuance, unless the MNRC revokes it.
- 2% gross receipt tax. Microfinance NGOs with a duly issued MNRC Certification of Accreditation are eligible for the 2% gross receipt tax on income from microfinance operations, in lieu of all national taxes.
- Exclusion. Microfinance NGOs whose MNRC accreditation has expired beginning April 1, 2019 are excluded from the 2% gross receipt tax. Revenue District Offices are reminded of these rules.
Who is affected
- Accredited Microfinance NGOs
- Revenue District Offices
Deadlines and effectivity
- Issued May 7, 2019
- Lists effective as of April 1, 2019
- Accreditation valid for three (3) years from issuance
- 2018 accreditations valid until March 31, 2019
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.