Scope of Direct Costs in Cost of Services for MCIT

Ask AI

BIR REVENUE MEMORANDUM CIRCULAR NO. 24-2008: Scope of Direct Costs in Cost of Services for MCIT

Getting related questions...
What do you want to know about the law?
Your conversations and searches stay on your device. We do not store or track your activity on our servers. To know more about our privacy commitment see jur.ph/privacy Ask AI provides quick answers grounded in full case texts to avoid mistakes. Always verify with the original text.

Ask AI

Title Supreme Court: Scope of Direct Costs in Cost of Services for MCIT

Law: Bir Revenue Memorandum Circular No. 24-2008

Decision Date: Mar 18, 2008

The BIR clarifies that "direct costs and expenses" for computing the 2% minimum corporate income tax must exclusively include costs directly incurred in providing services, such as salaries and facility expenses, excluding any unrelated costs.

direct costs

cost of

services

END