Revenue Memorandum Circular · RMC
RMC No. 124-2024 Digest
To circularize Energy Regulatory Commission Resolution No. 10, Series of 2023, titled "A Resolution Suspending the Inclusion of the National Franchise Tax of the National Grid Corporation of the Philippines (NGCP) in the Total Monthly Transmission Cost Billing of Distribution Utilities".
- Document type
- RMC
- Number
- 124
- Year
- 2024
- Text quality
- Not specified
Document text
Reference copy · verify against the official sourceRMC No. 124-2024, issued on November 15, 2024, circularizes Energy Regulatory Commission Resolution No. 10, Series of 2023, which suspends the inclusion of the National Franchise Tax of the National Grid Corporation of the Philippines (NGCP) in the total monthly transmission cost billing of distribution utilities. Under the circularized resolution, the Commission suspends the passing-on of the 3% National Franchise Tax by NGCP to its customers, and the effectivity of Resolution No. 07, Series of 2011 is likewise suspended. The resolution takes effect immediately following its publication in a newspaper of general circulation in the country.