Tax Notes: Additional list of PERA UTIFs approved by the BSP

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TAX-NOTES-ADDITIONAL-LIST-PERA-UTIFS-APPROVED-BSP-538336

April 24, 2017

REPUBLIC Act No. 9505, otherwise known as the “Personal Equity and Retirement Account (PERA) Act of 2008,” provides taxpayers an opportunity to save for their retirement while saving on taxes. Under the law, any employed or self-employed individual is allowed to set up his own PERA, which enjoys certain tax incentives.

Relative to Revenue Memorandum Circular (RMC) No. 131-2016, the BSP accredited additional PERA unit investment trust funds (UTIFS)/ investment products as follows:

No	Name of Bank	Name of Fund	Subtype	Detailed Type of Fund	Denomination	Date of BSP Approval
1	Metropolitan Bank and Trust Company	Metrobank Money Market Fund	Money Market	PERA- Money Market	Peso	3/28/2017
2	Metropolitan Bank and Trust Company	Metrobank PERA Bond Fund	Bond	PERA-Bond	Peso	3/28/2017
3	Metropolitan Bank and Trust Company	Metrobank PERA Equity Fund	Equity	PERA - Equity	Peso	3/28/2017

It is emphasized that only income earned from the investments and reinvestments of PERA assets in the specified PERA investment products and investment of PERA assets in government securities are exempt from income taxes.

Please be guided accordingly. Source: P&A Grant Thornton
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