ERRATUM: Special InTAX: April 2023 Issue 1 | Volume 3

Fiscal Incentives Review Board

The Fiscal Incentives Review Board (FIRB) issued FIRB Memorandum Circular No. 001-2023 dated 20 April 2023, which highly encourages all Investment Promotion Agencies (IPAs), Other Government Agencies (OGAs), Registered Business Enterprises (RBEs), and Other Registered Enterprises (OREs), who are required to submit the Annual Tax Incentives Report (ATIR) and Annual Benefits Report (ABR) to the FIRB, to utilize the online submission module of the ATIR and ABR in the Fiscal Incentives Registration and Monitoring System (FIRMS).

Other salient points discussed in the circular include the following:

• Email submissions of the reports to FIRB are still accepted but there are email addresses dedicated to (1) RBEs under the Philippine Economic Zone Authority (PEZA) and (2) all RBEs and OREs with various IPAs and OGAs.
• IPAs and OGAs are not precluded from requiring a different mode of submission.
• The period of submission for taxable year 2022 shall be as follows:

 

Documents/Reports Required	Responsible to Submit	Deadline
ATIR and ABR	RBEs and OREs availing of tax incentives	17 May 2023
Consolidated report (ATIR and ABR)	IPAs and OGAs administering tax incentives	16 June 2023

• A prescribed template shall be used to be considered valid ATIR and ABR submissions (refer to Annex “A” of this circular).

Please click on the link for the full text of the issuances: How to fill out the ATIR and ABR annexes and FIRB Memorandum Circular No. 001-2023, Annex “A”

(Erratum: All references to AITR should refer to ATIR)