Tax exemption on corporate surplus accumulation

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Republic Act No. 1823: Tax exemption on corporate surplus accumulation

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Title Supreme Court: Tax exemption on corporate surplus accumulation

Law: Republic Act No. 1823

Decision Date: Jun 22, 1957

Republic Act No. 1823 exempts corporations in the Philippines, except for banks, insurance companies, and personal holding companies, from paying additional corporate income tax on improperly accumulated profits and surplus, with the purpose of preventing tax avoidance and encouraging distribution of profits to shareholders or members.

amendment

exemption

profits

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