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EOPT

Revenue Memorandum Circular No. 60-2024

2024-05-17T16:35:05+08:00

This Circular is issued to provide clarification and guidance on the amendments introduced by Republic Act No. 11976 otherwise known as the "Ease of Paying Taxes (EOPT) Act", particularly on the repeal of Section 34 (K) of the National Internal Revenue Code (Tax Code) of 1997, as amended. The amendment is implemented through Section 6 of Revenue Regulations No. 4-2024. With the repeal of the provision under the Ease of Paying Taxes (EOPT) Act, a particular income payment where a tax is required to be withheld can now be allowed as deduction from the gross income, even if no tax was [...]

Revenue Memorandum Circular No. 60-20242024-05-17T16:35:05+08:00

Revenue Memorandum Circular No. 36-2024

2024-03-12T09:03:21+08:00

Effective July 1, 2023, the MCIT rate returned to its old rate of Two Percent (2%) based on the gross income of the corporation. In computing the MCIT, the gross of the corporation. In computing MCIT, the gross income shall be divided by 12 months to get the average monthly gross income and apply the rate of 1% for the period January 1 to June 30, 2023 and 2% for the period July 1 to December 31, 2023. For ease of computation, the rates below corresponding to the taxable period of the taxpayer may be used:  Annual Accounting Period  MCIT 2%/1%  [...]

Revenue Memorandum Circular No. 36-20242024-03-12T09:03:21+08:00
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