RMC No. 94-2026: BIR issues additional guidelines on the utilization of PERA Tax Credit Certificates

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 94-2026 to provide additional guidelines on the utilization of Personal Equity and Retirement Account Tax Credit Certificates (PERA TCCs). The Circular addresses common questions relating to the processing, release, validity, application, and monitoring of PERA TCCs under Republic Act No. 9505, otherwise known as the Personal Equity and Retirement Account (PERA) Act of 2008.

Under the Circular, a PERA contributor is entitled to a tax credit equivalent to five percent (5%) of the total qualified PERA contributions made during a given year. The PERA Administrator is required to electronically submit PERA TCC applications on behalf of PERA contributors within sixty (60) days from the end of each calendar year through the Bangko Sentral ng Pilipinas PERA System (PERASys), which is interconnected in real time with the BIR ePERA System for processing and approval.

Once approved, the PERA TCC becomes available in PERASys for distribution to the contributor. Upon the contributor’s written request for utilization, the PERA Administrator may either generate and issue the PERA TCC physically to the contributor or authorized representative or send it in PDF format to the contributor’s official email address.

The circular also provides the following clarifications:

• PERA TCCs issued on or after July 27, 2023 are valid for five (5) years from the date appearing on the certificate, pursuant to Revenue Regulations No. 7-2023;
• A PERA contributor may choose to utilize only a portion of the available PERA tax credit;
• Any amount of PERA TCC in excess of the tax due reported in the tax return of an overseas Filipino or self-employed contributor shall be forfeited in favor of the government;
• Unclaimed or unutilized PERA TCCs of a deceased contributor are not transferable and may not be applied against estate tax due;
• Printed and released PERA TCCs may be considered utilized for purposes of computing early withdrawal penalties if the contributor withdraws or terminates the PERA before the allowable period unless proven otherwise; and
• The concerned Revenue District Offices (RDOs) shall validate PERA TCCs through the QR code or the BIR ePERA System and tag utilized certificates as “CLAIMED.”

RMC No. 94-2026 further sets out filing, payment, and attachment submission procedures for employee, self-employed, individual business, and overseas Filipino PERA contributors. Depending on the contributor type and applicable tax return, the PERA TCC may be applied through year-end withholding adjustments, indicated as “5% PERA TCC” under other tax credits or payments, or reflected in the applicable payment details portion of the tax return.

The BIR also reminds taxpayers to use the latest Offline eBIRForms or eFPS facility, as applicable, and to submit the required attachments, including the PERA TCC, through the prescribed electronic or manual

channels. For annual income tax returns filed electronically, the Filing Reference Number (FRN) of the Tax Return Receipt Confirmation shall serve as proof of filing.

RMC No. 94-2026 took effect immediately upon issuance.

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants

P&A Grant Thornton is the Philippine member firm of Grant Thornton International Ltd.

As published in SunStar Cebu, dated 04 September 2026