Tax Notes
Ease of Paying Taxes Act (EOPT) Provisions Applicable to the Power Industry
The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) No. 116-2024 on August 21, 2024, implementing Republic Act (RA) No. 11976 or the Ease of Paying Taxes (EOPT) Act, affecting generation, transmission, and distribution utility (DU) companies, electric cooperatives (EC) and retail electricity suppliers (RES).