Application for Certificate of Entitlement to Tax Incentives (CETI) of Registered Business Enterprises (RBE) with FIRB and IPAs (PEZA, BOI, etc.)
CETI is a requirement for all RBE in availing of the Income Tax Holiday (ITH) or preferential rate provided by CREATE
Revenue Memorandum Circular (RMC) No. 28-2022 mandates all Registered Business Enterprises (RBE) to apply for a Certificate of Entitlement to Income Tax Incentives (CETI) formerly Certificate for Entitlement to Income Tax Holiday, to the Bureau of Internal Revenue prior to the filing of the Annual Income Tax Return (AITR). This CETI will be then attached to AITR filed.
CETI will now be also a requirement for all RBEs in availing of the Income Tax Holiday (ITH) or preferential rate provided by CREATE Act.
Consequently, the requirements of RMC No. 14-2022, which required the submission of the Certificate for Entitlement to Income Tax Holiday within thirty (30) days of the filing of the RBE’s AITR, are also revoked by the said RMC.
RBEs, on the other hand, who have already issued a CETI in a template previously established by the Investment Promotion Agency (IPA) as proof of entitlement to fiscal incentives, may include it in their IATR for the taxable year 2021 which was disclosed in the RMC No. 37-2022 dated April 06, 2022.
For everyone’s guidance and perusal.
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