Summary
RR No. 3-2021 prescribes rules to implement Section 3 of RA No. 11534 (CREATE Act), which amends Section 20 of the NIRC, on furnishing information about entities receiving Title XIII incentives to the Department of Finance (DOF).
Key points
- Request from the DOF. Under Section 20(B), the Secretary of Finance may order the Commissioner of Internal Revenue (CIR) to give the DOF specifically identified information on entities receiving incentives under Title XIII, with the justification stated. The request is made on authority of the Secretary and addressed to the CIR, naming the information sought and the reason.
- Handling within the BIR. A request received by another BIR office is sent immediately to the Office of the Commissioner. All responses go through the CIR.
- Approval needed. No revenue official or employee may give the DOF official information on incentives without the CIR’s prior written approval.
- Confidentiality. The Secretary of Finance and DOF officers and employees handling the information are covered by Section 270 of the Tax Code, unless the taxpayer consents in writing to disclosure.
Who is affected
- Entities receiving incentives under Title XIII of the Tax Code
- Revenue officials and employees
- Secretary of Finance and DOF personnel
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.