RR 7-2023

RR No. 7-2023 (issued July 7, 2023) amends the PERA implementing rules (RR Nos. 17-2011 and 2-2022 under RA No. 9505). It raises the maximum annual Qualified PERA Contributions to Php 200,000.00 per calendar year for non-Overseas Filipino contributors and Php 400,000.00 for Overseas Filipinos or those contributing in representation of an Overseas Filipino, effective January 1, 2023. Excess contributions cannot be accepted under the PERA Account, though the Administrator may accept them as ordinary savings/investment accounts without PERA Act benefits. It also amends the PERA tax credit certificate (TCC) rules in RR No. 2-2022: a TCC unutilized within five (5) years from issuance becomes invalid, is automatically cancelled by the ePERA System, and can no longer be used to pay internal revenue tax liabilities; reissuance of damaged or lost certificates is likewise unavailable after five (5) years. The remaining provisions take effect fifteen (15) days after publication.