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What is MCIT Tax Constitutionality Ruling about?

The Supreme Court upheld the constitutionality of the minimum corporate income tax (MCIT) and creditable withholding tax (CWT) provisions being challenged. It ruled that the MCIT did not violate due process because it approximates the income tax due using a reduced rate and gross income base. It further ruled that the CWT provisions for real property sales classified as ordinary assets were consistent with laws classifying assets and did not violate due process or equal protection. The Court found the tax s

Author

Charish Danao

Language

EN