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8box Solutions Inc.

REVENUE MEMORANDUM CIRCULAR NO. 29-2007 issued on April 23, 2007 publishes the full text of Republic Act (RA) No. 9399 entitled “An Act Declaring a One-Time Amnesty on Certain Tax and Duty Liabilities, Inclusive of Fees, Fines, Penalties, Interest and Othe r Additions Thereto, Incurred by Certain Business Enterprises Operating Within the Special Economic Zones and Freeports Created under Proclamation No. 163, Series of 1993; Proclamation No. 216, Series of 1993; Proclamation No. 420, Series of 1994 and Proclamation No. 984, Series of 1997, Pursuant to Section 15 of Republic Act no. 7227, as Amended, and for Other Purposes”

        Registered business enterprises operating prior to the effectivity of RA No. 9399 within the special economic zones and freeports created pursuant to Section 15 of RA No. 7227, as amended, such as the Clark Special Economic Zone created under Proclamation No. 163, series of 1993; Poro Point Special Economic and Freeport Zone created under Proclamation No. 216, series of 1993; John Hay Specia l Economic Zone created under Proclamation No. 420, series of 1994; and Morong Special Economic Zone created under Proclamation No. 984, series of 1997, may avail of the benefits of remedial tax amnesty granted on all applicable tax and duty liabilities, inclusive of fines, penalties, interests and other additions incurred by themor that might have accrued to them due to the rulings of the Supreme Court in the cases of John Hay People’s Coalition v. Lim, et al., G.R. No. 119775 dated October 23, 2003 and Coconut Oil Refiners Association, Inc. v. Torres, et al., G.R. No. 132527 dated July 29, 2005, by filing a notice and return in such form as shall be prescribed by the Commissioner of Internal Revenue and the Commissioner of Customs and thereafter, by paying an amnesty tax of P 25,000.00 within 6 months from the effectivity of RA No.9399 : Provided, that the applicable tax and duty liabilities to be covered by the tax amnesty shall refer only to the difference between:

  1. All national and local tax impositions under relevant tax laws, rules and regulations; and
  2. The 5% tax on gross income earned by said registered business enterprises as determined under relevant revenue regulations of the Bureau of Internal Revenue (BIR) and memorandum circulars of the Bureau of Customs (BoC) during the period covered.

     Provided, however, that the coverage of the tax amnesty granted shall not include the applicable taxes and duties on articles, raw materials, capital goods, equipment and consumer items removed from the special economic zone and freeport and entered in the customs territory of the Philippines for local or domestic sale, which shall be subject to the usual taxes and duties prescribed in the National Internal Revenue Code of 1997, as amended, and the Tariff and Cus toms Code of the Philippines, as amended.

      Those who have availed of the tax amnesty and have fully complied with all its conditions shall be relieved of any civil, criminal and/or administrative liabilities arising from or incident to the non-payment of taxes, duties and other charges covered by the tax amnesty granted under Section 1 of RA No. 9399.