Amending Certain Provisions of Revenue Memorandum Order (RMO) No. 28-2017

April 20, 2020 REVENUE MEMORANDUM ORDER NO. 011-20 SUBJECT : Amending Certain Provisions of Revenue Memorandum Order (RMO) No. 28-2017 Prescribing the Guidelines and Procedures in the Implementation of Republic Act No. 9505, Otherwise Known as the Personal Equity and Retirement Account (PERA) Act of 2008, dated July 21, 2016 TO : All Revenue Officials and Employees Concerned I. BACKGROUND Revenue Memorandum Order (RMO) No. 42-2016, as amended by RMO No. 28-2017, prescribed the form of Certificate of Entitlement (COE) to 5% Tax Credit for Employee-Contributor (BIR Form 2339) who has qualified contributions under the Personal Equity Retirement Account (PERA). The COE will be released to the PERA Administrators which will in turn transmit such certificate to the employer for purposes of automatically adjusting the withholding tax on employees' compensation income. II. OBJECTIVE The current design of COE to 5% Tax Credit for Employee-Contributor (BIR Form 2339) form that will be issued per employer contains a list of ALL employees with qualified PERA contributions and their tax incentives. However, in compliance with the Republic Act No. 10173 otherwise known as the Data Privacy Act of 2012, this Order is being issued to further amend the Certificate of Entitlement to 5% Tax Credit for Employee-Contributor. Consequently, the COE will be released to the PERA Administrators which will in turn transmit such certificate to: (1) Employee without qualified employer's contribution and (2) Employer for employees with qualified employer's contribution for purposes of automatically adjusting the withholding tax on employees' compensation income. III. AMENDMENT BIR Form No. 2339 is hereby amended into two separate forms are attached: a.) Annex E-1 (a) for Employee without Qualified Employer's Contribution and b.) Annex E-1 (b) for Employee with Qualified Employer's Contribution IV. REPEALING CLAUSE All revenue issuances and/or portions thereof that are inconsistent herewith are hereby repealed, amended or modified accordingly. V. EFFECTIVITY This Order shall take effect immediately. CAIHTE (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue ANNEX E-1 (a) BIR Form No. 2339 Certificate of Entitlement to 5% Tax Credit for Employee-Contributor ANNEX E-1 (b) BIR Form No. 2339 Certificate of Entitlement to 5% Tax Credit for Employee-Contributor