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    This document summarizes tax and duty incentives available to registered projects or activities and registered business enterprises under Sections 294 and 296 of the Philippine tax code. It provides income tax holidays as one incentive, exempting payment of national income tax for registered business enterprises complying with legal conditions, with the tax holiday limited to income from the registered project or activity. Other incentives may also be granted subject to conditions and periods of availment outlined in the law.

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    This document summarizes tax and duty incentives available to registered projects or activities and registered business enterprises under Sections 294 and 296 of the Philippine tax code. It provides income tax holidays as one incentive, exempting payment of national income tax for registered business enterprises complying with legal conditions, with the tax holiday limited to income from the registered project or activity. Other incentives may also be granted subject to conditions and periods of availment outlined in the law.

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    3 views3 pages

    Document 3

    Uploaded by

    qnlrnr mlla
    This document summarizes tax and duty incentives available to registered projects or activities and registered business enterprises under Sections 294 and 296 of the Philippine tax code. It provides income tax holidays as one incentive, exempting payment of national income tax for registered business enterprises complying with legal conditions, with the tax holiday limited to income from the registered project or activity. Other incentives may also be granted subject to conditions and periods of availment outlined in the law.

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    © All Rights Reserved
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    SUMMARY OF TAX AND DUTY INCENTIVES and PERIOD

    O (Sec. 294 and 296, NIRC :


    Subject to the conditions and period of availment in Sections 295 and 296,
    respectively, the following types of tax incentives may be granted to registered projecs
    or activities or Registered Business Enterprises (RBEs):

    1. INCOME TAX HOLIDAY (ITH)

    Income Tax Holiday (ITH) is tax incentive provided under this new Title
    of the Tax Code, as amended by CREATE Act which basically means cessation
    from je payment ofincome tax levied by the national government for a certain
    period oftime, It is one of the fiscal incentives given to Registered Business
    Enterprises (RBEs) that complies with the conditions required by law. The IRR for
    Title XIII of the Tax Code as amended by CREATE law provides that the Income Tax
    Holiday (ITH) shall be limited to the income generated from a rewstened proyect
    or activity.

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