
BIR Issuances – RMC 91-2023
The BIR Circularizes the amendment to Rule 18, Section 5 of the Implementing Rules and Regulations (IRR) of RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act)
Revenue Memorandum Circular (RMC) No. 91-2023
11 September 2023
The amendment addresses the value-added tax (VAT) related issues and concerns of registered business enterprises (RBEs) particularly those registered prior to the CREATE Act.
NON-INCOME RELATED TAX INCENTIVES:
Section 2. Rule 18, Section 5 of the CREATE IRR is hereby amended to read as follows:
RULE 18. Investments prior to the effectivity of this Act.
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APPLICABILITY OF THE RULES:
SECTION 3. Applicability of these Rules. These Rules shall apply prospectively; Provided that DMEs inside the economic or freeport zone that will opt to register as VAT taxpayers shall not be allowed to claim VAT refund for transactions prior to the effectivity of these Rules.
Copy of the RMC and IRR of RA No. 11534 can be accessed thru these files (RMC No. 91-2023, and IRR – RA No. 11534)
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