Philippines: Online submission of annual tax incentives and benefits reports
Online submission module in the fiscal incentives registration and monitoring system (FIRMS)
Online submission module in the fiscal incentives registration and monitoring system
The Fiscal Incentives Review Board (FIRB) issued guidance encouraging all investment promotion agencies, other government agencies, registered business enterprises (RBEs), and other registered enterprises that are required to submit the annual tax incentives report and annual benefits report to the FIRB, to utilize the online submission module in the fiscal incentives registration and monitoring system (FIRMS).
The guidance—FIRB Memorandum Circular No. 001-2023 (dated 20 April 2023)—also includes that:
- 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 other registered enterprises with various investment promotion agencies and other government agencies.
- Investment promotion agencies and other government agencies are not precluded from requiring a different mode of submission.
- The submission deadline for the 2022 tax year for RBEs availing of tax incentives is 17 May 2023.
Read an April 2023 report prepared by the KPMG member firm in the Philippines
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