Taxation · Lesson 13 of 14

Corporate income tax: RCIT, MCIT, and NOLCO under CREATE

Choose between the 25% and 20% regular rate by testing net taxable income against P5,000,000 and total assets against P100,000,000 excluding land, compute the minimum corporate income tax on gross income from the fourth taxable year, carry an excess MCIT forward for three years, and run a net operating loss through the three-year NOLCO window.

20 min read · Super Ea