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The Philippine Economic Zone Authority (PEZA) shall no longer issue Certificates of Incentives and 5% GIT and instead issue the Certificate of Entitlement to Incentives (CETI) in accordance with the CREATE Act.

The fiscal incentives rationalization of the CREATE Act has effectively removed the cross-border doctrine for export-oriented registered business enterprises (RBEs). While VAT zero-rating rules on export sales still remain, VAT-zero rating on local purchases are only applicable on purchases that are directly and exclusively used in the RBEs’ registered project or activity.

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 115-2022 to inform all concerned on the lifting of the suspension of the issuance of Mission Orders (MOs) insofar as authorizing Revenue Officers to conduct Tax Compliance Verification Drive (TCVD).

The Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 9-2022 which prescribes the policies and guidelines for the admissibility of sales documents in electronic format, particularly in the verification of taxpayers’ sales and purchases during audit or processing of VAT refund claims. Under the said issuance, taxpayers who are mandated to implement the Electronic Invoicing System (EIS) under Revenue Regulations No. 8-2022, including those who are authorized by the BIR, shall observe the following policies and guidelines:

The Bureau of Internal Revenue (BIR) has recently issued Revenue Regulation No. 6-2022 to remove the five (5)-year validity period on all manual and system-generated receipts and invoices, in line with Republic Act No. 11032, otherwise known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, which aims to improve, streamline, and reduce financial burden on the part of taxpayers.

The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 8-2022 to inform all concerned regarding the implementation of the required issuance of electronic receipts or invoices in lieu of manual receipts or invoices for certain identified taxpayers.

The SSS has issued an updated list of documentary requirements for sickness and disability benefits in support of the digitalization of the SSS benefit process and in compliance with Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

Taxpayers can take a breather as the country’s tax collection agency has suspended tax audits and other field operations as provided under Revenue Memorandum Circular (RMC) Nos. 76-2022 and 77-2022.