Application for Registration and Incentives under CREATE

June 2, 2021 FIRB RESOLUTION NO. 09-21 WHEREAS , Republic Act (RA) No. 11534, otherwise known as the "Corporate Recovery and Tax Incentives for Enterprises Act" or "CREATE," aims to, among others, develop a more responsive and globally-competitive tax incentives regime that is performance-based, targeted, time-bound, and transparent; WHEREAS , Section 297 (A) of the National Internal Revenue Code (NIRC) of 1997, as amended by RA 11534, authorizes the Fiscal Incentives Review Board (FIRB) to exercise policy making and oversight functions on the administration and grant of tax incentives by the Investment Promotion Agencies; WHEREAS , Section 297 (B) of the NIRC of 1997, as amended by RA 11534, provides that the FIRB shall prescribe the data requirements for the application of incentives to allow for the calculation of costs and benefits upon application; WHEREAS , FIRB Resolution 06-21 dated April 14, 2021 authorized the FIRB Secretariat, in consultation with the Board of Investments, to draw the prescribed format of the forms and processes pursuant to Sections 297 (A) and 297 (B) of the NIRC of 1997, as amended by RA 11534, for the approval of the Board. NOW, THEREFORE, BE IT RESOLVED, AS IT IS HEREBY RESOLVED , That pursuant to Sections 297 (A) and 297 (B) of the NIRC of 1997, as amended by RA 11534, the application processes for registration (regular and President) and incentives under CREATE (Annex A) and application forms (Annex B), are hereby adopted. Adopted by the Board in its meeting on June 2, 2021 where a quorum was present. DETACa (SGD.) CARLOS G. DOMINGUEZ Secretary of Finance Chairperson (SGD.) RAMON M. LOPEZ Secretary of Trade and Industry Co-Chairperson (SGD.) SALVADOR C. MEDIALDEA Executive Secretary (SGD.) WENDEL E. AVISADO Secretary of Budget and Management (SGD.) KARL KENDRICK T. CHUA Socioeconomic Planning Secretary ANNEX A Application Process ANNEX B Application Forms Form A Business Enterprise Registration Form B Activity/Project Currently Registered with an IPA Form C.1 Activity/Project-Level Registration Form C.2 Activity/Project Sales and Operations Information Form C.3 Activity/Project Employment Information Form C.4 Facility Requirement Information Form C.5 Project Timetable and Cost