FIRB Issuances – FIRB Advisory 9-2023

The Fiscal Incentive Review Board (FIRB) issued a clarificatory guidance on the applicability of the Certificate of Entitlement to Tax Incentives (CETI) template for projects registered under RA No. 9513 or the Renewable Energy (RE) Act of 2008

(FIRB Advisory 09-2023 dated 08 May 2023)

The CETI template for RE projects shall be deemed equivalent to the Certificate of ITH Entitlement (CoE) issued by the Board of Investments (BOI), evidencing the registered RE project’s entitlement to the income tax holiday (ITH) incentive, pursuant to BIR Revenue Regulations No. 7-2022 and Revenue Memorandum Circular No. 17-2023.

For RE projects entitled to the preferential corporate income tax rate of 10%, the existing documentary requirements pursuant to the rules and regulations issued by the BIR, the DOE, and the BOI, among other relevant government stakeholders, shall continue to apply. In this regard, this advisory clarifies that the CETI shall not be required to support the RE projects’ eligibility for the preferential corporate income tax rate of 10%.

A copy of the FIRB Advisory can be accessed thru this file (FIRB Advisory 09-2023)