8box Solutions Inc.


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

REVENUE REGULATIONS NO. 2-2020 issued on January 15, 2020 implements the tax exemption provisions of Republic Act (RA) No.11211, as amended by RA No. 7653 (The New Central Bank Act), and for other purposes. The BSP shall be exempt from all national internal revenue taxes on income derived from its governmental functions, specifically: a. income from its activities or transactions in the exercise of its supervision over the operations of banks and its regulatory and examination powers over non-bank financial institutions performing quasi-banking functions, money service businesses. credit granting businesses and payment system operators; and b. income in pursuit of its primary objective to maintain price stability conducive to a balanced and sustainable growth of the economy, and the promotion and maintenance of monetary and financial stability and the convertibility of the peso. All other incomes not included in the above enumeration shall be considered as proprietary income and shall be subject to applicable national internal revenue taxes.