Circularizing the Bureau of Internal Revenue (BIR) Revenue Memorandum Circular (RMC) No. 155-2022 Dated 27 December 2022 Entitled "Submission of Certificate of Entitlement to Tax Incentives (CETI) under Republic Act No. 11534 — The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act"

January 10, 2023 FIRB ADVISORY NO. 001-2023 FOR : All Heads of Investment Promotion Agencies (IPAs) and Registered Business Enterprises (RBEs) SUBJECT : Circularizing the Bureau of Internal Revenue (BIR) Revenue Memorandum Circular (RMC) No. 15 5-2022 Dated 27 December 2022 Entitled "Submission of Certificate of Entitlement to Tax Incentives (CETI) under Republic Act No. 11 534 The Corpo rate Recovery and Tax Incentives for Enterprises (CRE ATE) Act" This Advisory is issued to circularize the BIR's RMC on the acceptance of CETIs issued manually by the various IPAs as an attachment to the Annual Income Tax Return (AITR) to be filed by RBEs as proof of their entitlement to income tax incentives. Pursuant to Rule 8, Section 4 of the Implementing Rules and Regulations (IRR) of the CREATE Act, "upon verification of the compliance with the terms and conditions of registration and payment of corresponding fee by the RBE, the CETI shall be issued by the concerned IPA, in a prescribed form, upon application by the RBE which shall be attached to the ITR filed with the BIR." In connection with this, the BIR issued RMC No. 155-2022 dated 27 December 2022 , which further extended the acceptance of manually issued CETI as an attachment to the AITR. All RBEs enjoying income tax incentives shall be allowed to attach the CETI manually issued by their respective IPAs in their AITR for the taxable year 2022 until such time that a system-generated CETI can be issued through the Fiscal Incentives Registration and Monitoring System (FIRMS) being administered by the Fiscal Incentives Review Board (FIRB). Attached in this advisory is a copy of the said circular. The FIRB will release a separate issuance once the application and issuance of the system-generated CETI is fully operationalized through FIRMS. Meanwhile, the FIRB reminds all IPAs that they should check and verify the compliance of their RBEs as regards the terms and conditions of the RBEs' registration prior to the issuance of the CETI. Noncompliance with the terms and conditions, without justification, may be grounds for the suspension, cancellation, or withdrawal of tax incentives granted subject to the provisions of the CREATE Act and its IRR, after due process. 1 For your kind guidance. Thank you. (SGD.) JUVY C. DANOFRATA Assistant Secretary of Finance and Head of the FIRB Secretariat ATTACHMENT Revenue Memorandum Circular No. 155-2022 December 27, 2022 Footnotes 1. Rule 13, Sec. 6 of the CREATE Act IRR provides: SECTION 6. Power to Cancel, Suspend, or Withdraw the Enjoyment of Tax Incentives. The FIRB may cancel, suspend, or withdraw, on its own initiative or upon the recommendation of the IPA after due process, the enjoyment of fiscal incentives granted to qualified recipients in the following instances: a. Non-compliance with the agreed performance targets or material violation of any of the conditions imposed in the grant of fiscal incentives or tax; xxx xxx xxx