RMC No. 42-2021 — Circularizes Republic Act No. 11534 titled, “An Act Reforming the Corporate Income Tax and Incentive System, Amending for the Purpose Sections 20, 22, 25, 27, 28, 29, 34, 40, 57, 109, 116, 204 and 290 of the National Internal Revenue Code of 1997, as Amended, and Creating Therein New Title XIII, and For Other Purposes” Digest | Full Text | RA No. 11534 | Veto Message

ER REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

MAR 3 1 2021

REVENUE MEMORANDUM CIRCULAR NO.42- 20 2

SUBJECT: Circularizing Republic Act No. 11534 entitled, An Act Reforming the

Corporate Income Tax and Incentives System, Amending for the Purpose Sections 20,22,25,27,28,29,34, 40,57,109,116,204 and 290 of the National Internal Revenue Code of 1997, as Amended, and Creating Therein New Title XIII, and For Other Purposes

TO : All Internal Revenue Officers and Others Concerned

For the information and guidance of all internal revenue officials, employees and others concerned, attached herewith, as Annex A and B hereof, are the copies of Republic Act No. 11534, entitled An Act Reforming the Corporate Income Tax and Incentives System, Amending for the Purpose Sections 20, 22,25,27,28,29, 34,40,57,109. 116, 204 and 290 of the National Internal Revenue Code of 1997, as Amended, and Creating Therein New Title XIII, and For Other Purposes, and the Veto Message of President Rodrigo Roa Duterte.

All internal revenue officials and employees are enjoined to give this Circular as wide a publicity as possible.

18a1

Commissioner of Internal Revenue CAESAR R.DULAY $ 041898

K-1 BUREAU OF INTERNAL.REVENUE NNKTYYN

MAR 31.2021 3:000 N

1 RFCORDS MGT.DIVISION