Circularizing the List of Personal Equity Retirement Account (PERA) Unit Investment Trust Funds (UITFs) Duly Approved by the Bangko Sentral ng Pilipinas (BSP)

December 13, 2016 REVENUE MEMORANDUM CIRCULAR NO. 131-16 SUBJECT : Circularizing the List of Personal Equity Retirement Account (PERA) Unit Investment Trust Funds (UITFs) Duly Approved by the Bangko Sentral ng Pilipinas (BSP) TO : All Internal Revenue Officers and Others Concerned Under Rule 11 of the Rules and Regulations Implementing Republic Act No. 9505, otherwise known as the Personal Equity Retirement Account (PERA) Act of 2008, and Section 9 of Revenue Regulations (RR) No. 17-2011, all income earned from the investments and re-investments of PERA assets in PERA investment products shall be exempt from income taxes provided that said PERA investment products have been duly accredited by the concerned Regulatory Authority. Below is the list of PERA Unit Investment Trust Funds (UITFs)/investment products duly approved/accredited by the Bangko Sentral ng Pilipinas (BSP), as confirmed by the latter in its letter 1 dated November 28, 2016, to wit: No. Name of Bank Name of Fund Sub-type Detailed type of fund Denomination Date of BSP Approval 1. Bank of the Philippine Islands BPI PERA Equity Fund Equity PERA-Equity Peso 5/19/2015 2. Bank of the Philippine Islands BPI PERA Corporate Income Fund Balanced PERA-Balanced Peso 5/19/2015 3. Bank of the Philippine Islands BPI PERA Government Bond Fund Bond PERA-Bond Peso 5/19/2015 4. Bank of the Philippine Islands BPI PERA Money Market Fund Money Market PERA-Money Market Peso 5/19/2015 5. BDO Unibank, Inc. BDO PERA Equity Index Fund Equity PERA-Equity Peso 7/23/2015 6. BDO Unibank, Inc. BDO PERA Bond Index Fund Bond PERA-Bond Peso 7/23/2015 7. BDO Unibank, Inc. BDO PERA Short Term Fund Money Market PERA-Money Market Peso 7/23/2015 8. Land Bank of the Philippines LANDBANK PERA Global Dollar Fund Bond PERA-Bond Dollar 11/11/2015 9. Land Bank of the Philippines LANDBANK PERA Bond Fund Bond PERA-Bond Peso 11/11/2015 10. Land Bank of the Philippines LANDBANK PERA Money Market Fund Money Market PERA-Money Market Peso 11/11/2015 11. Rizal Commercial Banking Corp. RCBC PERA Equity Fund Equity PERA-Equity Peso 6/19/2015 12. Rizal Commercial Banking Corp. RCBC PERA Balanced Fund Balanced PERA-Balanced Fund Peso 6/19/2015 13. Rizal Commercial Banking Corp. RCBC PERA Money Market Fund Money Market PERA-Money Market Peso 6/19/2015 It is emphasized that only income earned from the investments and re-investments of PERA assets in the above-enumerated PERA investment products shall be exempt from income taxes under Rule 11 of the Rules and Regulations Implementing the PERA Act of 2008, and Section 9 of RR No. 17-2011. Moreover, income from investments and re-investments of PERA assets in government securities is likewise exempt from income taxes under the said provisions. IAETDc All concerned are hereby enjoined to be guided accordingly and give this circular as wide a publicity as possible. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue ANNEX A BANGKO SENTRAL NG PILIPINAS OFFICE OF THE GOVERNOR 28 November 2016 ATTY. MARISSA O. CABREROS Director III/Assistant Commissioner Bureau of Internal Revenue BIR National Office Building Agham Road, Diliman, Quezon City Dear Atty. Cabreros: We are pleased to provide you with the attached list of BSP-approved PERA Unit Investment Trust Funds (UITFs). As agreed with BSP representatives present at the meeting held at the BIR offices on 23 November 2016, we shall provide BIR with the names and relevant details of BSP-approved/accredited PERA investment products as and when they are approved/accredited. We look forward to BIR's issuance of a Revenue Memorandum Circular confirming the tax exempt status of the BSP-approved PERA UITFs stated in the list. Very truly yours, (SGD.) NESTOR A. ESPENILLA, JR. Officer-in-Charge ANNEX A-1 BSP Approved PERA UITFs No. Name of Bank Name of Fund Sub-type Detailed type Denomination Date of BSP of fund Approval 1 BANK OF THE PHIL. ISLANDS BPI PERA Equity Fund Equity PERA-Equity Peso 19/05/2015 2 BANK OF THE PHIL. ISLANDS BPI PERA Corporate Income Fund Balanced PERA-Balanced Peso 19/05/2015 3 BANK OF THE PHIL. ISLANDS BPI PERA Government Bond Fund Bond PERA-Bond Peso 19/05/2015 4 BANK OF THE PHIL. ISLANDS BPI PERA Money Market Fund Money Market PERA-Money Market Peso 19/05/2015 5 BDO UNIBANK, INC. BDO PERA Equity Index Fund Equity PERA-Equity Peso 23/07/2015 6 BDO UNIBANK, INC. BDO PERA Bond Index Fund Bond PERA-Bond Peso 23/07/2015 7 BDO UNIBANK, INC. BDO PERA Short Term Fund Money Market PERA-Money Market Peso 23/07/2015 8 LAND BANK OF THE PHILIPPINES LANDBANK PERA Global Dollar Fund Bond PERA-Bond Dollar 11/11/2015 9 LAND BANK OF THE PHILIPPINES LANDBANK PERA Bond Fund Bond PERA-Bond Peso 11/11/2015 10 LAND BANK OF THE PHILIPPINES LANDBANK PERA Money Market Fund Money Market PERA-Money Market Peso 11/11/2015 11 RIZAL COMM'L. BANKING CORP. RCBC PERA Equity Fund Equity PERA-Equity Peso 19/06/2015 12 RIZAL COMM'L. BANKING CORP. RCBC PERA Balanced Fund Balanced PERA-Balanced Fund Peso 19/06/2015 13 RIZAL COMM'L. BANKING CORP. RCBC PERA Money Market Fund Money Market PERA-Money Market Peso 19/06/2015 * changes are highlighted in red Footnotes 1. Attached hereto as Annexes "A" and "A-1".