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Revenue Memorandum Circular · RMC

RMC No. 37-2022

To clarify the guidelines on the submission of the Certificate of Entitlement to Tax Incentives (CETI), pursuant to Revenue Memorandum Circular No. 28-2022.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
37
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
This circular clarifies the guidelines on submitting the Certificate of Entitlement to Tax Incentives (CETI). Registered business enterprises (RBEs) enjoying tax incentives under the CREATE Act transitory provisions (Section 311, Title XIII, RA 11534) and business enterprises registered under that law must apply for a CETI with their Investment Promotion Agency (IPA) through the Fiscal Incentives Registration and Monitoring System (FIRMS) before filing their Annual Income Tax Return. For taxable year 2021 only, RBEs that already hold older IPA-prescribed certificates (e.g., certificate of entitlement to income tax holiday, certificate of available incentives, or certificate of registration and tax exemption) may attach those instead of the Fiscal Incentives Review Board-prescribed CETI.