RMC No. 142-2022

RMC No. 142-2022 (issued November 2, 2022) publishes the full text of DTI Memorandum Circular No. 22-19, s. 2022, prescribing guidelines for existing IT-BPM Registered Business Enterprises (RBEs) to register with the Board of Investments (BOI). IT-BPM RBEs with remaining tax incentives under Section 311 of the NIRC, or with incentives approved under the CREATE Act on or before September 14, 2022, may exercise this option until December 31, 2022. The concerned Investment Promotion Agency's (IPA) endorsement is treated as a no-objection certification; after payment of a ₱2,250.00 fee, the BOI issues a certificate of registration specifying the remaining incentives and period of entitlement, cross-annotated with the IPA certificate. The IPA continues to administer the remaining incentives, and covered RBEs must submit initial (within 30 days) and monthly (within 5 days after month-end) reports on equipment brought out of the economic/freeport zones and on employees under work-from-home arrangements. No bond may be imposed on the movement of capital equipment within and outside ecozones or freeports.