About this document
Income Taxation: MCIT and NOLCO Guide by Arjhay Cruz is a document available to read on EtoBox.
The document summarizes key points about income taxation for corporations in the Philippines, including: 1. Minimum corporate income tax (MCIT) of 2% of gross income is imposed on domestic and resident foreign corporations starting in their 4th year of operations, whenever MCIT is greater than regular corporate income tax. 2. Excess MCIT can be carried forward and credited against regular corporate income tax for the next 3 years. 3. Net operating losses can be carried forward as a deduction for 3 cons
- Author
- Arjhay Cruz
- Language
- EN