Tax Alert No. 8 [Revenue Memorandum Circular (RMC) No. 17-2023 dated 19 January 2023]

Publishing Fiscal Incentives Review Board (FIRB) Advisory No. 002-2023-Templates for the Certificate of Entitlement to Tax Incentives (CETI)

RMC No. 17-2023 has published the templates through FIRB Advisory No. 002-2023 for the Certificate of Entitlement to Tax Incentives (CETI) covering the following types of projects:

• Projects registered under RA No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act (“CREATE Projects”)
  
• Projects Registered prior the effectivity of CREATE Act (“Pre- CREATE Projects”)
  
• Projects registered under RA No. 9513 or the Renewable Energy Act of 2008 (“Renewable Energy Projects”)  
  

All Investment Promotion Agencies (IPAs) are mandated to use the updated templates beginning 1 March 2023. CETIs already issued on or before 28 February 2023 using the previous templates circulated last 23 March 2022, shall remain valid for the corresponding fiscal or calendar year, unless canceled, suspended, or withdrawn by the IPA or the FIRB, after due process.

You may access the full version of the issuances through the BIR website.