Implementation of the Revised BOI Form S-1 (Annual Report) and Guidelines for Submission of Reporting Requirements

February 2017

BOI MEMORANDUM CIRCULAR NO. 2017-003

 

WHEREAS, paragraph 7 of Article 7 (Powers and Duties of the Board) of Executive Order (E.O.) No. 226, otherwise known as the Omnibus Investments Code of 1987, as amended, provides that the Board has the power to "periodically check and verify the compliance by registered enterprises with the relevant provisions of this Code, with the rules and regulations promulgated under this Code and with the terms and conditions of registration"; cSaATC

WHEREAS, Rule XI of the Implementing Rules and Regulations (IRR) of E.O. No. 226 requires the submission of the following reports, among others, within the prescribed period by every registered enterprise for each preferred area of investment: Income tax returns, Audited annual financial statements, Quarterly production and sales report, and Form S-1 (Annual Report);

WHEREAS, in addition to the documents required under Rule XI of the IRR of E.O. No. 226, the Board required the submission of Form S1-2 (Semestral Report) by BOI registered enterprises as reflected in the terms and conditions of registration;

WHEREAS, there is a need to update and streamline the reporting requirements of BOI-registered enterprises for efficient and more effective monitoring of their compliance to the terms and conditions of registration;

NOW THEREFORE, in order to effectively carry out the intent and purposes of E.O. No. 226, as amended, the Board, in its meeting of 01 February 2017, by virtue of Board Resolution No. 3-05, Series of 2017, with a quorum duly present, approved the following:

1. The revised BOI Form S-1 shall be effective for year 2016 reporting and onwards. All BOI-registered enterprises are enjoined to use the attached BOI Form S-1. The BOI Form S-1 shall be notarized and the submission thereof shall be both in hard and soft copies (Excel Format) within the prescribed period as follows:

For Calendar Year — 30th of April of every year

For Fiscal Year — Four (4) months after the end of fiscal year

The BOI Form S-1 is accessible and downloadable in the BOI website at www.boi.gov.ph.

2. The Audited Financial Statements and Income Tax Return shall be scanned and submitted in a Compact Disc (CD); and CHTAIc

3. BOI-registered enterprises are NO longer required to submit BOI Form S1-2 (Semestral Reports).

This Circular shall take effect immediately upon publication in a newspaper of general circulation and three (3) copies thereof shall be filed with the Office of the National Administrative Register (ONAR), University of the Philippines (UP) Law Center, Diliman, Quezon City pursuant to Presidential Memorandum Circular No. 11 dated 09 October 1992.

Done in Makati City, this ____ day of February 2017.

BY AUTHORITY OF THE BOARD

(SGD.) DR. CEFERINO S. RODOLFOUndersecretary and BOI Managing Head

BOI FORM S-1

ANNUAL REPORT ON ACTUAL OPERATIONS

Guidelines:

1.  Deadline of submission for this report shall be as follows:

For Calendar Year — 30th of April

For Fiscal Year — Four (4) months after the end of fiscal year

2.  The information provided in this report shall be accurate and precise and reflect the real data pertaining to the enterprise and its registered project.

3.  This report shall be submitted both in soft (Excel format) and hard copies. Only one hard copy is required for submission, which should be notarized and signed by the enterprise's authorized signatory.

4.  The enterprise shall submit one report for each registered project.

5.  For Mass Housing Projects, please fill-out the portion "Compliance for Mass Housing Projects."

6.  For projects that have not yet commenced operations, kindly fill out information as may be applicable.

7.  The Audited Financial Statements and Income Tax Return, duly stamped by the Bureau of Internal Revenue, should be submitted in scanned copy saved in a CD. cHDAIS

I. BASIC INFORMATION

 

II. COMPANY PERFORMANCE FOR THE YEAR

 

III. BOI — REGISTERED PROJECT PROFILE

 

IV. LABOR GENERATION AND FOREIGN EXCHANGE INFLOWS AND OUTFLOWS FOR THE YEAR

 

V. PRODUCTION AND PERFORMANCE DATA FOR THE REGISTERED PROJECT FOR THE YEAR

 

VI. COMPLIANCE FOR MASS HOUSING PROJECTS

 

CERTIFICATION

I, ______________________________, of legal age, _________________ (status), with address at ____________________________________, after having been sworn in accordance with law, hereby state that:

1. I am occupying the position of _________________ in _________________ with business address at _________________.

2. I have caused the preparation of the annual report on actual operations.

3. I have read and understood the contents thereof and that all information therein are true and correct.

Done in _________________ on _________________.

______________________

Name/Signature