Advisory on the Submission of Reportorial Requirements under DOF-DTI JAO No. 001-2023

April 24, 2023 FIRB ADVISORY NO. 007-2023 FOR : The Cooperative Development Authority and All Registered Cooperatives SUBJECT : Advisory on the Submission of Reportorial Requirements under Department of Finance and Department of Trade and Industry Joint Administrative Order (DOF-DTI JAO) No. 001-2023 Entitled "Guidelines to Implement Sections 305, 306, 307, and 308 of the National Internal Revenue Code (NIRC) of 1997, as Amended by Republic Act No. 11534, Otherwise Known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE)Act for Cooperatives" This advisory is issued to prescribe the guidelines for the submission of reportorial requirements of cooperatives registered with the CDA under the CREATE Act as implemented by DOF-DTI JAO No. 001-2023 approved on 09 March 2023 1 to ensure a smooth and seamless transition to the new guidelines. ETHIDa All reports covering the taxable year 2022 or prior years shall use the older version of templates/reports prescribed under DOF-DTI JAO No. 1-2016, 2 DOF-CDA-BIR JAO No. 1-2019, 3 and CDA Memorandum Circular No. 2019-06, series of 2019 and shall be submitted on or before the deadline prescribed below: Reports Submitted by Submitted to Deadline ATIR or Annex A CDA-registered cooperatives CDA May 15, 2023 Consolidated ATIR or Annex B CDA FIRB and Bureau of Internal Revenue (BIR) June 15, 2023 Registered cooperative master list or Annex C CDA FIRB and BIR May 30, 2023 a/ a/ The JAO provides that the master list shall be submitted within 30 calendar days from its approval. Given that the 30th day has already lapsed on April 8, 2023, the deadline is hereby extended to give the CDA ample time to prepare the report. All reports covering the taxable year 2023 and onwards shall be submitted using the new version of the templates/reports prescribed under JAO No. 001-2023 and subject to the deadlines indicated therein. TIADCc Pursuant to Rule II of the DOF-DTI JAO No. 001-2023, all CDA-registered cooperatives availing of incentives are mandated to submit to the CDA a complete annual tax incentives and benefits report on or before May 15 of the immediately following year from the statutory deadline for filing tax returns and payment of taxes. The incentives report shall contain a complete and detailed report on tax incentives availed in a taxable year. The benefits report, on the other hand, shall present a clear, complete, and data-driven account of the performance of cooperatives vis-a-vis the purpose for which they are organized and registered. The CDA, in turn, is also required to submit to the FIRB, in a machine-readable format, a consolidated incentives and benefits report on or before June 14 of the immediately following year from the statutory deadline for filing of tax returns and payment of taxes . Thus, for purposes of submission of reportorial requirements for the taxable year 2023 and thereafter, the CDA and all registered cooperatives shall already use the prescribed Forms under JAO No. 001-2023. Below is a summary of deadlines for the submission of the required reports for taxable year 2023 under JAO No. 001-2023: Report Submitted by Submitted to Deadline ATIR or Annex A CDA-registered cooperatives CDA May 15, 2024 ABR or Annex B Consolidated ATIR per cooperative or Annex C CDA FIRB and BIR June 14, 2024 a/ Consolidated ABR per cooperative or Annex D Master list of all registered cooperatives entitled to incentives or Annex E CDA FIRB and BIR January 30, 2024 b/ a/ For cooperatives following a fiscal year, the deadline for submission by CDA of the consolidated reports to the BIR shall be within 60 days from the deadline of the filing of the income tax return. b/ 30 days from the close of each calendar year. All submissions to the FIRB shall be sent to the official email of the FIRB Monitoring and Evaluation Group (MEG), [emailprotected] ,on or before the set deadline. Your continued support and collaboration are highly appreciated. For your guidance. (SGD.) JUVY C. DANOFRATA Assistant Secretary of Finance Head of the FIRB Secretariat Footnotes 1. Effective on 15 April 2023. 2. Rules and Regulations to Implement Republic Act No. 10708 or the Tax Incentives Management and Transparency Act (TIMTA). 3. Rules and Regulations Implementing Section 3 of Republic Act No. 10963, otherwise known as the "Tax Reform for Acceleration and Inclusion Law.