RR No. 3-2021 — Prescribes the Rules and Regulations to implement Section 3 of RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act or CREATE Act), amending Section 20 of the NIRC of 1997, as amended (Publshed in Philippine Star and Malaya Business Insight on April 9, 2021)

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Quezon City.

08 APR 2021

REVENUE REGULATIONS NO.3 - 202

SUBJECT of the National Internal Revenue Code of 1997, As Amended. No. 11534, Otherwise Known as the "Corporate Recovery and Tax Incentives for Enterprises Act" or "CREATE", Amending Section 20 : Rules and Regulations Implementing Section 3 of Republic Act (RA)

TO : All Internal Revenue Officers and Others Concerned

National Internal Revenue Code of 1997 (Tax Code), as amended, these Regulations are hereby information to the Department of Finance (DOF) in relation to the grant of incentives to a particular entity under 'Sec. 16 of the Act, amending Title XIII of the Tax Code, as amended. promulgated to implement Section 3 of Republic Act (RA) No. 11534 or CREATE, particularly on the submission by the Commissioner of Internal Revenue of the needed'tax-related SECTION 1. Scope Pursuant to the provisions of Sections 244 and 245 of the

information related to entities receiving incentives under Title XIII of the Tax Code of 1997. as amended, with justification clearly stated therefor. to Section 20 (B) of the Tax Code, as amended by CREATE, the Secretary of Finance may order the Commissioner of Internal Revenue to furnish the DOF such specifically identified SECTION 2. Submission of Tax-Related and Pertinent Information. -- Pursuant

or the work or apparatus of any manufacturer or producer. any amendments thereof, including those pertinent information which can be associated with. directly or indirectly, to a particular taxpayer, regarding its business income, operations, style SECTION 3. Tax Related and Pertinent Information. -- Refers to tax returns and

transmitted to the Office of the Commissioner for appropriate action. justification for the request for information related to the incentives granted to a particular entity under Title XIII'of the Tax Code of 1997, as amended. Should a request for official information or document be received by another office within the BIR, it shall immediately be entities receiving incentives under Title XIII of the Tax Code of 1997, as amended, shall be made upon authority of the Secretary of Finance and shall be addressed to the Commissioner of Internal Revenue. It shall identify the specific information sought, as well as the reason or SECTION 4. Procedure. A request for tax related and pertinent information of

approval of the Commissioner of Internal Revenue. through the Commissioner of Internal Revenue. Under no circumstance shall a revenue official DOF, specifically on information relative to the grant of incentives, without the prior written or employee provide or make known, in any manner, official information or documents to the All responses to requests for tax related and pertinent information shall be coursed

of Finance and the relevant officers and employees in the DOF handling such specific information obtained from the Commissioner of Internal Revenue shall be covered by the SECTION 5. Liability for Disclosure of Tax-Related Information. -- The Secretary

BUREAU OF INTERNAL REVENUE

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provisions of Section 270 of the Tax Code of 1997, as amended, unless the taxpayer consents in writing to such disclosure.

which are inconsistent with the provisions of these Regulations are hereby repealed, amended SECTION 6. Repealing Clause - All existing rules and regulations or parts thereof,

or modified accordingly.

SECTION 7. Effectivity - These Regulations shall take effect immediately

CARLOS G. DOMINC Secretary of Finance

APR 07 2021

Recommending Approval:

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Commissioner of Internal Revenue CAESAR R. DULAY

042291

BUREAU OF INTERNAL REVENUE

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