Philippine Government Forms All in One Location
Income Tax Holiday Application Requirement for Extension
BOI checklist of income tax holiday application requirement for extension
Your Browser Doesn't Support Canvas. Showing the Text Content of the PDF Instead: REPUBLIC OF THE PHILIPPINES
BOARD OF INVESTMENTS
CHECKLIST OF REQUIREMENTS
APPLICATION FOR EXTENSION OF INCOME TAX HOLIDAY
Under Art. 39(a)(1) of E.O. 226
BOI Registration No.
Authorized Representative :
Telephone No./FAX No.
Ownership Structure (specify nationality if foreign-owned or w/ foreign partner) :
Filipino P___________ _____% Foreign ____________ P___________
1. Duly accomplished and notarized application form
2. For Capital Equipment to Labor Ratio Criterion
a. Copy of Audited Financial Statements pertaining to the registered
activity covering the taxable year preceding the period applied for
b. Certified itemized list of machinery and equipment (with
acquisition date and cost) or certified true copy of the machinery
account ledger. The aggregate value appearing in the itemized list
should always reconcile with the balance sheet value
c. Copy of Monthly Payroll sheets supported by corresponding
remittances of SSS premiums and/or withholding taxes due to BIR
pertaining to the registered activity for the same taxable year as in
item (a). The payroll sheet should indicate the respective positions
of the workers.
3. For Foreign Exchange Earnings/Savings Criterion
a. Bank certifications on the inward remittance of foreign exchange for
the first three years of commercial operation
b. Export sales summary report covering the first three years of
commercial operation duly certified by a responsible official of the
applicant enterprise. Use prescribed formats for direct, constructive
and indirect export sales attached to the application form.
c. In case of Indirect Exports
- Notarized certification issued by direct exporters in support of
item (a) that deliveries of semi-manufactured
products/packaging supplies included in the export sales
summary report were used in the manufacture of their products
which were exported from (month/year) to (month/year) and
formed part thereof.
DOCUMENTARY REQUIREMENTS (ITH Extension)
d. In case of constructive exports
- Notarized certification issued by the buyers in support of item
(a) that they are licensed operators of CBWs or PEZA
registered firms and that deliveries included in the summary of
export sales were received by them.
- Notarized certification issued by agency with tax immunity in
support of item (a) that deliveries included in the summary of
export sales were received by them.
e. In case of foreign exchange savings criterion
- Local sales summary report in the prescribed format covering
the first three years of commercial operation duly certified by
a responsible official of the applicant enterprise and which
summary shall indicate the equivalent foreign exchange CIF
cost of the registered product had this been imported the basis
for which cost should be provided by submitting the
appropriate supporting documents.
f. Summary of Imported Costs duly certified by a responsible officer
of the applicant enterprise. Use prescribed format attached to the
g. For Tourist Accommodation Facilities
- Foreign currency payments made through banking system or
through credit card: Certification from the bank or credit card
company that it credited to the account of the registered enterprise
foreign currencies remitted into the country
- Foreign currency payments made in any mode, whether through
walk-in, travel agency or online: Photocopy of passport of the
non-resident foreigner which should be attached to the file copy
of official receipt of the registered enterprise
4. For Indigenous Raw Material Criterion
a. Audited Financial Statements with Detailed Manufacturing Cost
Statement for all taxable years from start of commercial operation
and prior to the extension. The Income Statement should segregate
results of operation of registered activity from other activities.
b. Duly certified Breakdown of Cost of Raw Materials pertaining to the
registered activity and indicating what are indigenous.
Checklisted by: _________________
(Pls. print name)
For Official Acceptance _____
For Provisional Acceptance _____
Cannot be accepted/filed until
completion of documents _____
Note: In order not to be penalized, application for extension must be filed with the BOI prior to the filing
of the Income Tax Return (ITR) for the extension year.