Revenue Regulations
| No. of Issuance | Subject Matter | Date of Issue |
| RR No. 2-2021 | Amends certain provisions of RR No. 2-98, as amended, to implement the amendments introduced by RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Act) to the NIRC of 1997, as amended, relative to the Final Tax on certain passive income (Published in Philippine Star and Malaya Business Insight on April 9, 2021) Digest | Full Text |
April 8, 2021 |
| RR No. 3-2021 | Prescribes the Rules and Regulations to implement Section 3 of RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Act), amending Section 20 of the NIRC of 1997 (Published in Philippine Star on April 9, 2021) Digest | Full Text |
April 8, 2021 |
| RR No. 4-2021 | Implements the provisions on Value-Added Tax (VAT) and Percentage Tax under RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Act), which further amended the NIRC of 1997, as amended, as implemented by RR No. 16-2005, as amended (Published in Philippine Star on April 9, 2021) Digest | Full Text |
April 8, 2021 |
| RR No. 5-2021 | Implements the new Income Tax rates on the regular income of corporations, on certain passive incomes, including additional allowable deductions from Gross Income of persons engaged in business or practice of profession pursuant to RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Act), which further amended the NIRC of 1997 (Published in Philippine Star and Malaya Business Insight on April 9, 2021) Digest | Full Text |
April 8, 2021 |
| RR No. 8-2021 | Amends certain provisions of RR No. 4-2021, which implemented the VAT and Percentage Tax provisions under RA No. 11534 (CREATE Act) (Published in Philippine Star on June 12, 2021) Digest | Full Text |
June 11, 2021 |
| RR No. 21-2021 | Amends certain provisions of RR No. 16-2005, as amended by RR Nos. 4-2007, 13-2018, 26-2018 and 9-2021 to implement Sections 294 (E) and 295 (D), Title XIII of the NIRC of 1997, as amended by RA No. 11534 (CREATE Act), and Section 5, Rule 2 and Section 5, Rule 18 of the CREATE Act Implementing Rules and Regulations (Published in Manila Times on December 10, 2021) Digest | Full Text |
December 7, 2021 |
| RR No. 4-2022 | Implements Section 295(F), in relation to Section 294, both of the NIRC of 1997, as amended by RA No. 11534 (CREATE Act), on the tax treatment of the importation of petroleum and petroleum products into, and subsequent transfer, transport and/or withdrawal through and from Freeport Zones and Economic Zones (Published in Manila Times on May 30, 2022) Digest |Full Text |
May 26, 2022 |
| RR No. 3-2023 | Amends certain provisions of RR No. 16-2005, as amended by RR No. 21-2021, to implement Sections 294 (E) and 295 (D), Title Xlll of the NIRC of 1997, as amended by RA No. 11534 (CREATE Act), and Section 5, Rule 2 and Section 5, Rule 18 of the CREATE Act IRR, as amended (Published in Manila Times on April 28, 2023) Digest | Full Text |
April 27, 2023 |
Revenue Memorandum Circulars
|
No. of Issuance
|
Subject Matter
|
Date of Issue
|
| RMC No. 62-2021 | Clarifies certain provisions of Revenue Regulations No. 5-2021 relative to Corporate Income Taxation Digest | Full Text |
May 17, 2021 |
| RMC No. 67-2021 | Clarifies the issues relative to the temporary reduction of Percentage Tax rate imposed under Section 116 of the NIRC of 1997, as amended by Section 13 of RA No. 11534 (CREATE Act) Digest | Full Text |
May 24, 2021 |
| RMC No. 76-2021 | Clarifies the illustrative examples in the computation of Corporate Income Tax under Section 3(B) and 3(D) of Revenue Regulations No. 5-2021 Digest | Full Text |
June 15, 2021 |
| RMC No. 81-2021 | Publishes the letter from the Food and Drug Administration containing the “List of VAT-Exempt Products” pursuant to RA No. 11534 (CREATE Act) Digest | Full Text | FDA Endorsement Letter | List of VAT-Exempt Products |
July 6, 2021 |
| RMC No. 83-2021 | Circularizes the Implementing Rules and Regulations of Title XIII of RA No. 8424 otherwise known as the "National Internal Revenue Code of 1997", as amended by RA No. 11534 (CREATE Act) Digest | Full Text | IRR |
July 12, 2021 |
| RMC No. 89-2021 | Circularizes RA No. 11534, titled “An Act Reforming the Corporate Income Tax and Incentives System, Amending for the Purpose Sections 20, 22, 25, 27, 28, 29, 34, 40, 57, 109, 116, 204 and 290 of the National Internal Revenue Code of 1997, as Amended, and Creating Therein New Title XIII, and for Other Purposes”, otherwise known as “Corporate Recovery and Tax Incentives for Enterprises Act” or CREATE” Digest | Full Text | RA No. 11534 | Veto |
July 19, 2021 |
| RMC No. 99-2021 | Clarifies issues relative to the Value-Added Tax (VAT) Exemption of certain medicines and other medicinal devices for COVID-19 under Sections 109(1)(AA) and 109(1)(BB)(ii) of the National Internal Revenue Code of 1997 (Tax Code), as amended by Republic Act (RA) Nos. 10963 (TRAIN Law), 11467 and 11534 (CREATE Act) Digest | Full Text |
September 1, 2021 |
| RMC No. 103-2021 | Publishes the full text of the letters from the Food and Drug Administration and the Department of Health containing updates to the List of VAT-Exempt Products under Republic Act (RA) Nos. 10963, 11467 and 11534 Digest | Full Text | Updates to the List of VAT-Exempt Products | Endorsement of the List of VAT-Exempt COVID-19 Medicines | List of VAT-Exempt COVID-19 Medicines |
October 1, 2021 |
| RMC No. 115-2022 | Publishes the full text of the letters from the Department of Health containing updates to the list of VAT-exempt COVID-19 products under RA No. 11534 Digest | Full Text | Attachment 1 | Attachment 2 |
November 19, 2021 |
| RMC No. 120-2021 | Circularizes the Amendments to Rule 2, Sections 4, 5 and 8; Rule 3 Section 3; Rule 17 Section 2, and Rule 18 Section 5, and Addition of a New Rule 18 Section 6 of the Implementing Rules and Regulations of Title XIII of RA No. 8424 (National Internal Revenue Code of 1997), as amended by RA No. 11543 (CREATE Act) Digest | Full Text | Annex A |
December 13, 2021 |
| RMC No. 123-2021 | Publishes the full text of letter from the Department of Health endorsing updates to the List of VAT-Exempt COVID-19 Medicines under Republic Act No. 11534 Digest | Full Text | Attachment |
December 14, 2021 |
| RMC No. 124-2021 | Publishes the full text of letter from the Food and Drug Administration endorsing updates to the List of VAT-Exempt COVID-19 Medicines under Republic Act No. 11534 Digest | Full Text | Annex A | List of VAT-Exempt Products Under RA No. 11534 |
December 14, 2021 |
| RMC No. 2-2022 |
Publishes the full text of letter from the DOH endorsing updates to the List of VAT-Exempt COVID-19 Medicines under RA No. 11534
|
January 10, 2022 |
| RMC No. 5-2022 |
Publishes the letter from the Food and Drug Administration endorsing updates to the List of VAT-Exempt Products under RA Nos. 10963 and 11534
|
January 17, 2022 |
| RMC No. 17-2022 | Publishes the full text of letter from the DOH endorsing updates to the List of VAT-Exempt COVID-19 Medicines under RA No. 11534 Digest | Full Text |
January 31, 2022 |
| RMC No. 19-2022 | Provides clarification and guidance on Section 8 of RR No. 5-2021 on the tax-free exchanges of properties under Section 40(C)(2) of the NIRC of 1997, as amended by RA No. 11534 (CREATE) Digest | Full Text | Annex A | Annex A-1 | Annex A-2 | Annex B |
February 4, 2022 |
| RMC No. 24-2022 | Clarifies issues relative to RR No. 21-2021 implementing the amendments to the Value-Added Tax (VAT) zero rating provisions under Sections 106 and 108 of the National Internal Revenue Code of 1997 (Tax Code), in relation to Sections 294(E) and 295(D), Title XIII of the Tax Code, introduced by RA No. 11534 (CREATE Act), and Section 5, Rule 2 and Section 5, Rule 18 of the CREATE Act Implementing Rules and Regulations Digest | Full Text |
March 9, 2022 |
| RMC No. 28-2022 | Prescribes the guidelines in the submission of the Certificate of Entitlement to Tax Incentives (CETI) under Republic Act No. 11534 (Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law) Digest | Full Text |
March 16, 2022 |
| RMC No. 30-2022 | Publishes the full text of the letter from the Food and Drug Administration of the Department of Health (DOH) endorsing updates to the List of VAT-Exempt Medicines under Republic Act No. 11534 (CREATE) Act Digest | Full Text | Annex A |
March 16, 2022 |
| RMC No. 47-2022 | Publishes the full text of the letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act) Digest | Full Text |
April 19, 2022 |
| RMC No. 49-2022 | Amends pertinent portion of the Questions and Answers in RMC No. 24-2022 to align them with the provisions of CREATE Act and its Implementing Rules and Regulations Digest | Full Text |
April 20, 2022 |
| RMC No. 51-2022 | Publishes the letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act) Digest | Full Text | Annex A |
April 21, 2022 |
| RMC No. 56-2022 | Publishes the full text of the letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt medicines under RA No. 11534 (CREATE Act) Digest | Full Text | Annex A |
April 27, 2022 |
| RMC No. 57-2022 | Publishes the full text of the letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt medicines under RA No. 11534 (CREATE Act) Digest | Full Text | Annex A |
April 27, 2022 |
| RMC No. 58-2022 | Publishes the full text of the letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt medicines under RA No. 11534 (CREATE Act) Digest | Full Text | Annex A |
April 27, 2022 |
| RMC No. 59-2022 | Publishes the full text of the letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt medicines under RA No. 11534 (CREATE Act) Digest | Full Text | Annex A |
April 27, 2022 |
| RMC No. 66-2022 |
Publishes the full text of the April 8, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of Medical Devices Exempt from VAT under RA No. 11534 (CREATE Act)
|
May 2, 2022 |
| RMC No. 68-2022 |
Publishes the full text of the April 26, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt medicines under RA No. 11534 (CREATE Act)
|
May 12, 2022 |
| RMC No. 83-2022 |
Publishes the May 18, 2022 letter from the Food and Drug Administration (FDA) of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)
|
June 30, 2022 |
| RMC No. 110-2022 |
Publishes the May 30, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)
|
July 21, 2022 |
| RMC No. 112-2022 |
Publishes the June 27, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)
|
July 28, 2022 |
| RMC No. 113-2022 |
Publishes the July 1, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)
|
July 28, 2022 |
| RMC No. 116-2022 |
Publishes the July 11, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)
|
August 4, 2022 |
| RMC No. 119-2022 |
Publishes the July 20, 2022 letter from the Food and Drug Administration of the DOH endorsing updates to the List of VAT-Exempt Medicines under RA No. 11534 (CREATE Act)
|
August 8, 2022 |
| RMC No. 69-2023 | Reverts the rates of Percentage Tax, Minimum Corporate Income Tax, and Regular Corporate Income Tax on proprietary educational institutions and not for profit hospitals, pursuant to RA No. 11534 (CREATE Act) Digest | Full Text |
June 20, 2023 |
Revenue Memorandum Orders
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No. of Issuance
|
Subject Matter
|
Date of Issue
|
|
Form No.
|
Form Title
|
- Advisory for mandated users of eBIRForms regarding payment of the Final Income Taxes Withheld. more
- CREATE Flyer
- BIR issues regulations to implement the CREATE Act. more
