Clarification on MCIT Gross Income Computation

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BIR MEMORANDUM CIRCULAR NO. 4-2003: Clarification on MCIT Gross Income Computation

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Title Supreme Court: Clarification on MCIT Gross Income Computation

Law: Bir Memorandum Circular No. 4-2003

Decision Date: Dec 31, 2002

BIR Memorandum Circular No. 4-2003 clarifies the components of gross receipts and costs for various service industries to accurately compute the Minimum Corporate Income Tax (MCIT) under the National Internal Revenue Code.

gross receipts

minimum corporate

income tax

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