Temporary measures to support BOI registered RBEs which were adversely affected by Typhoon Odette

Temporary measures to support BOI registered RBEs which were adversely affected by Typhoon Odette

(Revenue Memorandum Circular No. 103-2022, issued on July 19, 2022) 

This Tax Alert is issued to inform all concerned on the granting by the Fiscal Incentives Regulations Board (FIRB) to the Board of Investments (BOI) authority to implement temporary measures for Registered Business Enterprises (RBEs) in Regions IV-B (MIMAROPA), VI (Western Visayas), VII (Central Visayas), VIII (Eastern Visayas), X (Northern Mindanao), and XIII (CARAGA) following the onslaught of Typhoon Odette.  

Pursuant to the FIRB Resolution No. 018-22, BOI may adopt temporary measures for those affected by Typhoon Odette, i.e. movement of the start of commercial operations and the reckoning date of the RBEs’ income tax holiday (ITH), and deferment of the ITH availment, until December 12, 2022 or until the lifting of Presidential Proclamation (PP) No. 1267, whichever comes earlier, and subject to the terms and conditions stated in the RBE’s respective registrations.