RMC No. 89-2021 — Circularizes RA No. 11534, titled “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”, otherwise known as “Corporate Recovery and Tax Incentives for Enterpr

REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE

Quezon City

Date:JUL 2 1 2021

REVENUE MEMORANDUM CIRCULAR NO. 89-2021

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

Otherwise Known As "Corporate Recovery And Tax Incentives For Enterprises Act" or "CREATE THEREIN NEW TITLE XIII, AND FOR OTHER PURPOSES"

TO: All Internal Revenue Officials, Employees and Others Concerned

For the information and guidance of all internal revenue officials, employees and others concerned, attached as Annex "A" hereof is a copy 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", Otherwise Known As "Corporate Recovery And Tax Incentives For Enterprises Act" or "CREATE".

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

BUREAU OF INTERNAL REVENUE NNTYNT jUL 19 2021 10:20A.M Commissioner of Internal Revenue CAESAR R. DULAY 1a3 044033

Uf RECORDS MGT.DIVISION

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