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 Source: 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.

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