REVENUE MEMORANDUM CIRCULAR NO. 124-2024 issued on November 15, 2024, circularizes Energy Regulatory Commission Resolution No. 10, Series of 2023, titled “A Resolution Suspending the Inclusion of the National Franchise Tax of the National Grid Corporation of the Philippines (NGCP) in the Total Monthly Transmission Cost Billing of Distribution Utilities”.

The Commission SUSPENDS the passing-on of the 3% National Franchise Tax by NGCP to its customers. In relation thereto, the effectivity of Resolution No. 07, Series of 2011 is likewise SUSPENDED.

This Resolution shall take effect IMMEDIATELY following its publication in a newspaper of general circulation in the country.