Extension of the Deadline for Filing of the ATIR and ABR

June 21, 2022 FIRB RESOLUTION NO. 020-22 WHEREAS , Rule 11, Section 2 of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act Implementing Rules and Regulations (IRR) provides that all registered business enterprises (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 respective investment promotion agencies (IPAs) an Annual Tax Incentives Report (ATIR) and an Annual Benefits Report (ABR); WHEREAS , 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; WHEREAS , BIR Revenue Memorandum Circular No. 42-2022 set the statutory deadline for filing the 2021 Annual Income Tax Returns to 18 April 2022, given that 15 April 2022 fell on a non-working holiday; WHEREAS , While the BIR allowed for tentative tax returns to be amended until 16 May 2022 without the imposition of interest, surcharge, and penalties, the statutory deadline was not extended, and thus, the counting of the period for filing the ATIR and ABR remained; WHEREAS , the Board of Investments (BOI) requested to extend the deadline for the submission of ATIR and ABR for RBEs to 15 July 2022 and the ATIR for IPAs to 15 August 2022; NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED , That the request to extend the deadline for submission of the ATIR and ABR for all RBEs to 15 July 2022 and the deadline for submission of the ATIR for IPAs to 15 August 2022 without the imposition of the penalty under Section 308 of the National Internal Revenue Code of 1997, as amended by the CREATE Act, BE APPROVED ; RESOLVED, FINALLY , That the submissions of the RBEs and the IPAs to the FIRB Secretariat shall be sent to [emailprotected] ; This Resolution may be signed in any number of counterparts, each of which, when duly executed and sent by facsimile or electronic transmission to the Secretariat, shall be valid and effectual as if executed as an original, but all the counterparts (including those sent by way of facsimile or electronic transmission) shall together constitute one and the same document. Adopted by the Board in its meeting on 21 June 2022, where a quorum was present. (SGD.) TINA ROSE MARIE L. CANDA Officer-in-Charge and Undersecretary of Budget and Management (SGD.) KARL KENDRICK T. CHUA Secretary of National Economic and Development Authority LORAJEAN A. ALAMIN Assistant Executive Secretary (SGD.) RAMON M. LOPEZ Co-Chairperson and Secretary of Trade and Industry (SGD.) CARLOS G. DOMINGUEZ Chairperson and Secretary of Finance