RR 2-2022

RR No. 2-2022 (issued April 5, 2022) prescribes additional guidelines for implementing the tax provisions of the PERA Act of 2008, amending RR No. 17-2011 and repealing RR No. 6-2021. PERA Administrators must submit four periodic reports (Quarterly and Annual Reports on PERA Contributions and on Distributions/Early Withdrawals/Terminations) through the BSP-administered PERASys to the BIR PERA Processing Office via the ePERA System, using formats in Annexes “A” to “D”. It also establishes the PERA-Tax Credit Certificate (PERA-TCC), a tax credit equivalent to 5% of qualified PERA contributions made in a year, applied for online through PERASys within 60 days from the close of the calendar year and issued in the Annex “E” format. The PERA-TCC may be used only for income tax liabilities of qualified employee and self-employed contributors; qualified overseas Filipino contributors may use it for any internal revenue taxes. Employee contributors submit the TCC to their employer for year-end withholding tax adjustments, while self-employed and overseas Filipino contributors surrender and attach it to their tax returns and submit copies to the RDO. Penalties of 5% and 20% on early withdrawal of qualified contributions (under RR No. 10-2016) are deducted by the PERA Administrator from the withdrawn PERA account and remitted through online filing and payment facilities under a revenue issuance yet to be issued.