REVENUE MEMORANDUM CIRCULAR NO. 54-2026 issued on May 26, 2026 clarifies the Personal Equity Retirement Account (PERA) eligibility of securities covered by the Securities and Exchange Commission (SEC) Notice on the Philippine Stock Exchange (PSE) bi-annual rebalancing.

The SEC, informed the Bureau of Internal Revenue (BIR) of the official results of the PSE bi-annual rebalancing of the PSE Index (PSEi) and PSE Dividend Yield Index which took effect on 02 February 2026, pursuant to Section 3 of SEC Memorandum Circular (MC) No. 7, Series of 2022, otherwise known as the Rules on Qualified and/or Eligible PERA Investments.

For purpose of administering tax incentives under Republic Act (RA) No. 9505, otherwise known as “PERA Act of 2008”, and its Implementing Rules and Regulations, the following clarifications are issued:

a. Securities included in the updated PSEi and PSE Dividend Yield Index, as certified by the PSE and transmitted by the SEC, shall be considered qualified and/or eligible PERA investments, subject to compliance with the requirements and conditions provided under the PERA Act of 2008 and its Implementing Rules and Regulations, SEC MC No. 7, Series of 2022, and existing BIR issuances, including RMC No. 86- 2023;

b. The PERA eligibility of such securities pursuant to the SEC notice, shall be effective beginning 02 February 2026, unless otherwise provided by law or by subsequent issuances of the SEC or the BIR; and

c. The tax treatment of income from these securities when held as PERA assets remains exempt from Income Tax consistent with Section 9 of RA 9505 and Revenue Regulations No. 17-2011.

Nothing in this Circular shall be construed as amending or revoking existing tax rules, but merely supplementing and clarifying the same in light of the SEC notice.