Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 52 views

    RR No. 23-2018

    Uploaded by

    nathalie velasquez
    This document amends certain provisions of Revenue Regulations No. 17-2011 implementing the Personal Equity and Retirement Account Act of 2008. It makes two key changes: 1) It requires submission of proof of funds for PERA contributions. 2) It expands the situations where early withdrawals from a PERA will not be subject to penalties, such as for accident or illness-related hospitalization or permanent disability. The amendments were approved by the Commissioner of Internal Revenue and Secretary of Finance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    RR No. 23-2018

    Uploaded by

    nathalie velasquez
    52 views2 pages
    This document amends certain provisions of Revenue Regulations No. 17-2011 implementing the Personal Equity and Retirement Account Act of 2008. It makes two key changes: 1) It requires submission of proof of funds for PERA contributions. 2) It expands the situations where early withdrawals from a PERA will not be subject to penalties, such as for accident or illness-related hospitalization or permanent disability. The amendments were approved by the Commissioner of Internal Revenue and Secretary of Finance.

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document amends certain provisions of Revenue Regulations No. 17-2011 implementing the Personal Equity and Retirement Account Act of 2008. It makes two key changes: 1) It requires submission of proof of funds for PERA contributions. 2) It expands the situations where early withdrawals from a PERA will not be subject to penalties, such as for accident or illness-related hospitalization or permanent disability. The amendments were approved by the Commissioner of Internal Revenue and Secretary of Finance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    52 views2 pages

    RR No. 23-2018

    Uploaded by

    nathalie velasquez
    This document amends certain provisions of Revenue Regulations No. 17-2011 implementing the Personal Equity and Retirement Account Act of 2008. It makes two key changes: 1) It requires submission of proof of funds for PERA contributions. 2) It expands the situations where early withdrawals from a PERA will not be subject to penalties, such as for accident or illness-related hospitalization or permanent disability. The amendments were approved by the Commissioner of Internal Revenue and Secretary of Finance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    BUREAU OF rtrr rkr.tNAL trHvF_!

    \ue
    REPUBLIC OF THE PHILIPPINES

    r{rj ( rri i OI FINANCE


    ERNAL REVENUE
    lL CvrrririU
    City

    RECORD-q MGT. DIViS IOt.i

    NOV 2019

    UiUIi
    REVE|;; REGULATTSNS No. Js-hol!

    SUBJECT Amending Certain Provisions of Revenue Regulations (RR) No. 17-


    2011, as Amended, Implementing Republic Act (RA) No. 9505,
    Otherwise Known as the "Personal Equity and Retirement Account
    (PERA) Act of 2008".

    TO All lnternal Revenue Officers and Others Concemed

    SECTION 1. SCOPE. Pursuant to the provisions of Sections 244 and245 of the National
    Internal Revenue Code of - 1997, as amended, in relation to Section 13 of Republic Act (RA)
    No. 9505, otherwise known as the "Personal Equity and Retirement Accouni (pEne) abt oi
    ?00.8", certain provisions of Revenue Regulations (RR) No. 17-2011, as amended, is hereby
    further amended as prescribed under the aforesaid law.

    SECTION 2. Sections a (5) of RR No. 17-2011, as amended, is hereby'further amended to


    read as follows:

    "SECTION 4.Establishment of a PERA.


    - A Contributor must comply with
    following requirements in establishing a PERA;
    the

    (5) Submission of proof of source o.f-funds for the year or to be earned.for the
    year when the PERA contribution wcts made. "

    SECTION 3. Section 10 (B) of RR No. 17-2011, as amended, is hereby renumbered and


    further amended to read as follows:

    "SECTION 10. PERA Distributions and Early Withdrawals.


    -

    B. Early Withdrawal
    The follov,ing shall nol be subject tct thc Early Withdrav,al Penalty;

    (1) Transfer qf PERA assets to another Oualified/Elisible PERA Investment


    Product and/or another Administrator within.fifteen (15) calendar davs
    .from the withdrav,al thereot

    2) For payment of accident or illness-reloted hospitalization in excess of


    thirty (30) days, in which case o duly notarized doctor's certificate
    attesting to the' said event shall be attached to the Notice qf
    Termination/Withdrawal/Transfer to be submitted to the PERA Processing
    Office;

    (3) For payment to a Contributor y,ho has been subsequently rendered


    permanently totally disabled as defined under the Employees
    Compensation Law or Social Security System Lqw, in which case a
    certification dtly issued by a pertinent government agency that the
    Contributor had been permanently totally disabled shall be attached to the
    Notice of Termination/ Withdrcrwal/Transfer to be submitted to the PERA
    Processing Office,'

    (4) Deduction qf fees o-f the administrator, custodian and product provider
    (subsesuent to account openind from PERA assets, provided that such
    deduction is made with the consent of the Contributor.

    SECTION 4. REPEALING CLAUSE. Any rules and regulations, issuances or parts


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

    SECTION 5. SEPARABILITY CLAUSE.


    - If anyofofthetheremaining provisions
    provisions of these regulations is
    subsequently declared unconstitutional, the validity hereof shall
    remain in full force and effect.

    SECTION 6. EFFECTIYITY. These Revenue Regulations shalltake effect immediately.


    -

    Recommending Approval:

    @ CAESAR R. DULAY
    Commissioner of Internal Revenue
    + 0 20 o 3 3
    Approved:

    47, ,

    firt
    Secretary of Finance tib';,
    '€-,0*.r,
    H-I-LMAT 0[T 2 3 2018

    BtIREAIJ OF tfr t l:FTNAL Hl:vr: i\, !Jh


    f:\

    I t\\
    1il1
    Nol/ 212018
    /|:aa ont
    N)
    RECORD$ MST, DIVIS!O N

    PAGE 2 OF 2

    You might also like