MCIT on Domestic and Resident Foreign Corporations

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BIR REGULATIONS NO. 9-98: MCIT on Domestic and Resident Foreign Corporations

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Title Source: Supreme Court: MCIT on Domestic and Resident Foreign Corporations

Law: Bir Regulations No. 9-98

Decision Date: Aug 25, 1998

BIR Regulations No. 9-98 establishes a Minimum Corporate Income Tax (MCIT) of 2% on domestic and resident foreign corporations, applicable from the fourth taxable year of operation, with provisions for carrying forward excess payments and exemptions for certain nonprofit entities.

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