ERRATUM to InTAX June 2021 Issue 1 Volume 4

InTAX is an official publication of R.G. Manabat & Co.'s Tax Group

05 July 2021

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ERRATUM to InTAX June 2021 Issue 1 Volume 4

The salient provision on the table of domestic market activities as indicated in the Implementing Rules and Regulations (IRR) of Title XIII of Republic Act (RA) No. 8424, otherwise known as the “National Internal Revenue of 1997,” as amended by RA No. 11534 or the “Corporate Recovery and Tax Incentives For Enterprises (CREATE) Law” on 23 June 2021 is corrected as follows:

FOR DOMESTIC MARKET ACTIVITIES
Location / Industry Tiers	Tier I	Tier II	Tier III
NCR	4 yrs. Income tax Holiday (ITH) + 5 yrs. Enhanced Deduction (ED)	5 yrs. ITH + 5 yrs. ED	6 yrs. ITH + 5 yrs. ED
Metropolitan areas or areas contiguous and adjacent to NCR	5 yrs. ITH + 5 yrs. ED	6 yrs. ITH + 5 yrs. ED	7 yrs. ITH + 5 yrs. ED
All other areas	6 yrs. ITH + 5 yrs. ED	7 yrs. ITH + 5 yrs. ED	7 yrs. ITH + 5 yrs. ED

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