REVENUE MEMORANDUM CIRCULAR NO. 42-2025 issued on April 25, 2025 circularizes the Implementing Rules and Regulations of Title XIII of Republic Act (RA) No. 8424 (National Internal Revenue Code of 1997), as amended by RA No. 12066, with the following outline of content:

Part I.   General Provisions
              Rule 1. Scope and Definition of Terms
Part II. Tax and Duty Incentives
              Rule 2. Tax and Duty Incentives
              Rule 3. Period of Availment of Incentives
              Rule 4. Strategic Investment Priority Plan
Part III. Registration and Availment of Incentives
              Rule 5. Scope
              Rule 6. Registration of Business Enterprise
              Rule 7. Action on the Registration
              Rule 8. Application for Income Tax-Based Incentives
              Rule 9. Application for a VAT Zero-Rating Certificate
          Rule 10. Customs Duty Exemption on Importation of Capital Equipment, Raw Materials, Spare Parts, and Accessories
              Rule 11. Power of the President to Grant Incentives
Part IV. Tax Incentives Management and Transparency
              Rule 12. Filing and Submission of the Annual Tax Incentives Report
              Rule 13. Conduct of Impact Evaluation on Tax Incentives
Part V. Fiscal Incentives Review Board
              Rule 14. Expanded Functions of the FIRB
              Rule 15. Fiscal Incentives Review Board Proper
              Rule 16. Fiscal Incentives Review Board Technical Committee
              Rule 17. Fiscal Incentives Review Board Secretariat
Part VI. Other Provisions
              Rule 18. Transitory and Miscellaneous Provisions
              Rule 19. Investments Prior to the Effectivity of RA No. 11534
              Rule 20. Prohibition and Registered Activities
              Rule 21. One-Stop Action Center
              Rule 22. Forms and Certificates
              Rule 23. Misrepresentation and Violation of Other Provisions of the Tax Code
              Rule 24. Temporary Measures for Exceptional Circumstances
              Rule 25. Final Provisions