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 to P3,199,200.00 in 2011 usins the 201,0 Consumer Price Index values:
Provided, further, That every three (3) years thereafter, the amount stated
herein shall be adjusted to its present value using the Consumer Price Index as
published by the Philippine Statistics Authority (PSA).

xxx xxx xxx."

(2) With the intensified campaign of the Government to inoculate the population aimed at
achieving herd immunity and to require the use of medical grade Personal Protective Equipment
(PPE) components as a protection against COVID- 19, there is a need to facilitate the early
release of the imported items under Section 2, sub-section 4.109-1(BXpXbb), of RR No. 4-2021
from the Bureau of Customs (BOC).

Section 2, sub-section 4.109-1(BXpXbb), therefore, of RR No. 4-2021 is hereby amended

to read as follows:

ttxxx xxx.

The importation of items under (il, (ir) and (iifl hereof shall not be subiect
to the issuance of the Authoritv to Release Imported Goods (ATRIG)
under Revenue Memorandum Order (RMO) No. 35-2002. as amended.
+and maybe released bv the

@IG.
The exemption claimed under this subsection shall be subject to post audit by
the Bureau of Internal Revenue (BIR) or the Bureau of Customs (BOC), as
may be applicable.

xxx xxx."

(3) Excess percentage tax payments as a result of the decrease of tax rate from 3oh to l'/o
starting July 1, 2020 until the effectivity of RR No. 4-2021 may be carried forward to the
succeeding taxable quarters. This carry-over portion is intended for Percentage Taxpayers who
are regularly filing the returns and are expected to have overpaid taxes as a result of the
retroactive application of the CREATE. Tax refund, however, is still allowed in the event that the
taxpayer shifted from non-VAT to VAT-registered status, or the taxpayer has opted to avail of
the eight percent (8%) income tax rate at the beginning of TY 2021.

Hence, Section 3(2Xb) of RANo.4-2021 is hereby amendedto read as follows:

t'xxx xxx xxx

Percentage taxpavers who have ove'rpaid taxes as a resFlt of the decrease

of tax rate from 37o to 17o startine Julv 1, 2020 until the effectivitv of RR
No.4-2021 are allowed for a tax refund in the event that:

or ltiE,{lJ \L REVE
INTERNAL REVENUts

d ru-I1fn\

RE :#Lld
RECORDS MGT. DIVISION
 a. The taxnaver shifted from non-VAT to VAT-resistered status: or
b. The taxpaver has opted to avail the eight percent (87o) income tax rate
at the beeinnine of TY 2021.

xxx xxx xxx."

SECTION 3. REPEALING CLAUSE. _ Any rules and regulations, issuances or parts

thereof inconsistent with the provisions of these Regulations are hereby repealed, amended or
modified accordingly.

SECTION 4. SEPARABILITY CLAUSE. If any of the provisions of these

Regulations is subsequently declared unconstitutional, the validity of the remaining provisions
hereof shall remain in full force and effect.

SECTION 5. EFFECTMTY. - These Regulations shall take effect fifteen (15) days
following publication in the Official Gazette or in a leading newspaper of general circulation,
whichever comes first.

CA OS G. DOMING
Secretary of Finance
JUlt $ g ?8?1

Recommending Approval :

1ryu,.tUfi7
CAESAR R. DULAY
Commissioner of Internal Revenue .';,,,,,rt- pp\rf
lN'i.. f 11gg

I 043465 a: 40 l. 14,
JUN 11 2021

RL.CORDS M T. DIVTSIO