The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 28-2022, requiring all registered business enterprises (RBEs) enjoying both fiscal and non-fiscal incentives granted by Investment Promotion Agencies (IPAs), such as the Philippine Economic Zone Authority (PEZA) and Board of Investments (BOI), to secure a Certificate of Entitlement of Tax Incentives (CETI).

The CETI is a requirement for all RBEs to avail of the income tax holiday or preferential tax privileges granted by the CREATE Law. The CETI shall be filed with the BIR as a required attachment of the annual income tax return.

RMC No. 28-2022 repeals RMC No. 12-2012 that required the submission of a Certificate for Entitlement to Income Tax Holiday, now CETI, within 30 days from filing of the annual income tax return.


P&A Grant Thornton 

Certified Public Accountants


As published in SunStar Cebu, dated 31 March 2022