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 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.

minimum corporate

income tax

resident foreign

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