IAET Rules under Sec. 29 Tax Code 1997

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BIR REVENUE REGULATIONS NO. 2-2001: IAET Rules under Sec. 29 Tax Code 1997

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Title Supreme Court: IAET Rules under Sec. 29 Tax Code 1997

Law: Bir Revenue Regulations No. 2-2001

Decision Date: Feb 12, 2001

The 10% Improperly Accumulated Earnings Tax (IAET) is imposed on closely-held corporations that accumulate earnings beyond their reasonable business needs to deter tax avoidance by shareholders, with specific guidelines for determining reasonable accumulation and exemptions for certain entities.

earnings tax

tax code

corporate tax

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