Extension of the Deadline for the Submission of the Annual Tax Incentives Report (ATIR) and Annual Benefits Report (ABR)

2022 FIRB MEMORANDUM FOR : All Investment Promotion Agencies (IPAs) and Registered Business Enterprises (RBEs) SUBJECT : Extension of the Deadline for the Submission of the Annual Tax Incentives Report (ATIR) and Annual Benefits Report (ABR) This memorandum is issued with reference to the extension of the deadline for submission of the ATIR and ABR for RBEs and IPAs to 15 July 2022 and 15 August 2022 , respectively. Under Rule 11, Section 2 of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act Implementing Rules and Regulations (IRR), RBEs availing of tax incentives shall, within thirty (30) calendar days from the statutory deadline for filing of tax returns and payments of taxes, submit to their IPAs an ATIR and an ABR. On the other hand, Rule 11, Section 4 (d) of the CREATE Act IRR mandates the heads of the IPAs to submit to the Bureau of Internal Revenue (BIR) the ATIR within sixty (60) days from the statutory deadline for filing of Final Adjustment Return and payment of taxes due thereon, if any, of those employing the Calendar Year period. Under BIR Revenue Memorandum Circular No. 42-2022 , the deadline for filing the 2021 Annual Income Tax Returns was set for 18 April 2022, given that 15 April 2022 fell on a non-working holiday. While the BIR allowed tentative tax returns to be amended until 16 May 2022 without the imposition of interest, surcharge, and penalties, the statutory deadline was not extended. Thus, the counting of the period for filing the ATIR and ABR remained. In this regard, the FIRB members, during the Board Meeting conducted last 21 June 2022, moved to extend the deadline for the submission of ATIR and ABR . This is in consideration of the novelty of the ABR requirement and the voluminous documents necessary to be secured by RBEs and IPAs in order to complete the reportorial requirements as mandated under Section 305 of the CREATE Act. Hence, all RBEs are required to submit to their respective IPAs and the FIRB their ATIR and ABR on or before 15 July 2022 , while IPAs are required to submit to the BIR the ATIR as stated under Rule 11, Section 4 of the CREATE Act IRR, on or before 15 August 2022 without the imposition of penalty prescribed under Section 308 of the National Internal Revenue Code, as amended. The RBE and the IPA submissions to the FIRB Secretariat shall be sent to [emailprotected] . For strict compliance. (SGD.) JUVY C. DANOFRATA Assistant Secretary of Finance and Head of the FIRB Secretariat