BIR Circularizes Sec. 27 of CMEPA

On June 19, 2025, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 061-2025. The RMC was issued to circularize the Repealing Clause (Section 27) of Republic Act No. 12214 or the Capital Markets Efficiency Promotion Act (CMEPA). The CMEPA repeals or modifies several tax exemptions under various laws. Thus, effective July 1, 2025, the effectivity date of CMEPA,the exemptions found under the repealed or modified laws listed under Section 27 are no longer available, without prejudice to the Transitory Provision (Section 28) of the CMEPA.

 

Sec. 27 of the CMEPA repeals or modifies the following laws:

 

Provision	With respect to
P.D. No. 1648, Section 9	Tax exemption on bonds and securities
E.O. No. 603, Sections 6, 7 and 8	Tax exemptions on interest income, capital gains and documentary stamp tax, and on the issuance of bonds
R.A. No. 735, Section 14	Tax exemptions on interest income, capital gains, and documentary stamp tax
R.A. No. 4850, Section 12	Tax exemptions on interest income, capital gains and documentary stamp tax, and on the issuance of bonds
P.D. No. 37, Number 8	Tax exemptions on interest income, capital gains, and documentary stamp tax
P.D. No. 205, Section 12	Tax exemptions on interest income, capital gains, and documentary stamp tax
P.D. No. 442, Article 204	Tax exemption of the state insurance fund on capital gains
P.D. No. 696, Sections 10 and 11	Tax exemptions on interest income, capital gains, and documentary stamp tax of subsidiaries of Philippine Aerospace Development Corporation and on the issuance of bonds
R.A. No. 85, Section 2(g)	Tax exemptions on interest income, dividends, capital gains and the documentary stamp tax on bonds
R.A. No. 3844, Sections 76, 77 and 98	Tax exemptions on interest income, dividends, capital gains, and the documentary stamp tax on bonds
R.A. No. 3591, Section 24	Tax exemptions on interest income and on the issuance of bonds
E.O. No. 1037, Section 12	Tax exemptions on interest income, capital gains and documentary stamp tax, and on the issuance of bonds
R.A. No. 6395, Section 8(a)	Tax exemptions on interest income, capital gains, and documentary stamp tax of bonds
P.D. No. 334, Sections 9 and 15	Tax exemptions on interest income, capital gains, and documentary stamp tax and on the issuance of bonds
P.D. No. 1467, Section 16	Tax exemption on capital gains
R.A. No. 10801, Section 56	Tax exemption on capital gains
R.A. No. 9267, Section 28	Tax exemption on documentary stamp tax
R.A. No. 6426, Section 6	No qualification provided
R.A. No. 9497, Section 16(b)	Tax exemptions on interest income, dividends, and capital gains
R.A. No. 10086, Sec. 23(a)	Tax exemptions on interest income, dividends and capital gains
P.D. No. 1201, Section 11	Tax exemptions on interest income, dividends and capital gains
R.A. No. 2640, Section 11	Tax exemptions on interest income, dividends and capital gains
R.A. No. 4156, Section 12	Tax exemptions on interest income, dividends and capital gains
R.A. No. 9182, Section 15	Tax exemptions on capital gains and documentary stamp

 

The full issuance may be found here.