The Fiscal Incentive Review Board (FIRB) issued an advisory circulating the DOF-DTI JMC No. 001-2023, dated 10 May 2023, entitled, “Guidelines on the Determination of Non-Local Availability of Capital Equipment, Raw Materials, Spare Parts, or Accessories under Part II, Rule 2, Section 4(B)(3) of the IRR of Title XIII of RA No. 8424, otherwise known as the “National Internal Revenue Code of 1997”, as amended by RA No. 11534 or the “CREATE Act”
(FIRB Advisory 11-2023 dated 06 July 2023)
This Advisory is issued to circularize the Guidelines on the determination of non-local availability of capital equipment, raw materials, spare parts, or accessories under the Corporate Recovery Act and Tax Incentives for Enterprises (CREATE) Act and its implementing rules and regulations ORR).
To facilitate the determination of non-local availability of capital equipment, raw materials, spare parts, or accessories for importation, the DOF and DTI issued the attached JMC pursuant to Section 21 of the CREATE Act. The JMC also aims to supplement the CREATE Act IRR by authorizing the Investment Promotion Agencies (IPAs) to issue the CNLA, subject to the power of the DTI to revoke the same if found to have been issued in violation of the Guidelines.
Copy of the FIRB and related annexes Advisory can be accessed thru these files ( FIRB Advisory 09-2023, FIRB Advisory 11-2023 – DTI-DOF JMC on Guidelines on the Issuance of CNLA under CREATE Act_30June23, Annex A of JMC – CNLA Request Form with Sworn Statement as of 14 February 2023, and FIRB Advisory 11-2023 – Annex B of JMC – Template of Association Referral 23 February 2023 (Final))