(Revenue Memorandum Circular No. 155-2022, issued on December 27, 2022)
This Tax Alert is issued to inform all concerned on the extension of the acceptance of manually issued Certificate of Entitlement of Tax Incentives (CETI) as an attachment to the Annual Income Tax Return (AITR) of Registered Business Enterprises (RBEs) as proof of entitlement to income tax incentives.
The CETI is an attachment to the AITR of RBEs as proof of their entitlement to income tax incentives. RBEs are required to secure the CETI to avail the Income Tax Holiday (ITH) or preferential income tax rates granted by law.
For taxable year 2022, RBEs shall continue to be allowed to attach the CETI manually issued by their respective Investment Promotion Agency (IPA) to their AITR until a system generated CETI can be issued through the Fiscal Incentives Registration and Monitoring System administered by the Fiscal Incentives and Review Board (FIRB).
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