Revenue Memorandum Circular No. 054-2026

This Circular supplements Revenue Memorandum Circular (RMC) No. 86-2023 by recognizing the updated composition of securities from the PSE bi-annual index rebalancing, as transmitted by the SEC.

The SEC, through its letter dated 29 January 2026 (Annex “B”) , informed the Bureau of Internal Revenue (BIR) of the official results of the PSE bi-annual rebalancing of the PSE Index (PSEi) and Dividend Yield Index which took effect on 02 February 2026, pursuant to Section 3 of SEC Memorandum Circular (MC) No. 7, Series of 2022, otherwise known as the Rules on Qualified and/r Eligible PERA Investments.

In view thereof, and for the purposes of administering tax incentives under Republic Act No. 9505, otherwise known as “PERA Act of 2008”, and its Implementing Rules and Regulations, the following clarifications are hereby issued:

1. Securities included in the updated PSEi and PSE Dividend Yield Index, as certified by the PSE (Annex “B”) and transmitted by the SEC, shall be considered qualified and/or eligible PERA Investments, subject to compliance with the requirements and conditions provided under the PERA Act of 2008 and its Implementing Rules and Regulations, SEC MC No. 7, Series of 2022, and existing BIR issuance, including RMC No. 86-202;
2. The PERA eligibility of such securities pursuant to the SEC notice, shall be effective beginning 02 February 2026, unless otherwise provided by law or by subsequent issuances of the SEC or the BIR; and
3. The tax treatment of income from these securities when held as PERA assets remains exempt from income tax consistent with Sec. 9 of R.A. 9505 and Revenue Regulation No. 17-2011.

Nothing in this Circular shall be construed as amending or revoking tax rules, but merely supplementing and clarifying the same in light of the SEC Notice.