8box Solutions Inc.

4_20230710_150500_0001

Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE MEMORANDUM ORDER NO. 11-2020 issued on April 20, 2020 amends certain provisions of RMO No. 28-2017 relative to the guidelines and procedures in the implementation of Republic Act (RA) No. 9505 (Personal Equity and Retirement Account [PERA] Act of 2008). The Order amends BIR Form No. 2339 (Certificate of Entitlement [COE] to 5% Tax Credit for Employee-Contributor) into two separate forms, namely: i) for Employee without Qualified Employer’s Contribution; and ii) for Employee with Qualified Employer’s Contribution. The COE will be released to the PERA Administrators which, in turn, will transmit said certificate to the following: a. Employee – without qualified employer’s contribution; and b. Employer – for employees with qualified employer’s contribution, for purposes of automatically adjusting the withholding tax on employees’ compensation income.