Special InTAX: March 2022 Issue 2 | Volume 3

Bureau of Internal Revenue

The Bureau of Internal Revenue (BIR) issued the following:

Revenue Memorandum Circular (RMC) No. 27-2022, 16 March 2022, to circularize the additional list of Top Withholding Agents (TWAs) required to deduct and remit the 1% or 2% Creditable Withholding Tax (CWT) for the purchase of goods and services in view of the new prescribed criteria set forth under Revenue Regulations (RR) No. 31-2020 in identifying the TWAs of each Revenue District Offices (RDOs). 

The additional list of TWAs is posted in the BIR website at www.bir.gov.ph with search facility for the convenience of all concerned taxpayers. Accordingly, the obligation of the additional TWAs to deduct and remit the 1% or 2% CWT shall commence effective 1 April 2022. Any taxpayer who is not included in the published list of TWAs will not be required to deduct and remit the 1% or 2% CWT.

Lastly, individual written notices duly signed by the RDO shall be issued and served to the registered BIR addresses of these additional TWAs. 

RMC No. 28-2022, 16 March 2022, to provide information and guidance in requiring the submission of the Certificate of Entitlement to Tax Incentives (CETI) as an attachment to the Annual Income Tax Return (AITR) of Registered Business Enterprises (RBE), under Republic Act No. 11534 - The Corporate Recovery and Tax lncentives for Enterprises (CREATE) Law.

The requirement is pursuant to the provisions of Section 3 under Rule 8 of the CREATE Law Implementing Rules and Regulations (IRR) which provides that all RBEs shall apply for CETI with their concerned investment promotion agency (IPA) prior to the filing of the AITR. This requirement is mandatory for all RBEs in order to avail of the Income Tax Holiday (ITH) or preferential rate granted by CREATE Law. 

This RMC repeals the provisions stated in RMC No. 14-2012 dated 04 April 2012 which required the submission of the Certificate for Entitlement to Income Tax Holiday (now CETI) within 30 days from the filing of RBE’s AITR.

Attached are the full texts of the issuances.

RMC No. 28-2022
RMC No. 27-2022