INCOME TAX

ON CORPORATIONS
Presented by: Group 4
 CORPORATION DEFINED
Section 2 of RA 11232-the Revised Corporation Code of the
Philippines

Section 2 of RA 11232 or the Revised Corporation Code of

the Philippines provides that a Corporation is an artificial
being created by operation of law, having the right of
succession and the powers, attributes and properties
expressly authorized by law or incident to its existence.
 THE TERM CORPORATION
SHALL INCLUDE:
1. ONE PERSON 4. JOIN ACCOUNTS (CUENTAS EN
CORPORATIONS (OPCs) PARTICIPATION)

2. 5
PARTNERSHIP, NO
MATTER HOW CREATED
5. ASSOCIATIONS

OR ORGANIZED

3. JOINT STOCK COMPANIES 6 INSURANCE COMPANIES

TAXATION OF ORGANIZATIONS AND
CORPORATIONS UNDER SEC. 30 OF THE
NIRC OF 1997 (The Tax Code), as
amended; RMO 38-2019
The requirements for the grant of tax exemption are
specified by the law granting it and such grant is strictly
construed against the taxpayer because an exemption
restricts the collection of taxes necessary for the existence of
the government.
ICE BREAKER
 (1) Income Tax
Exemption, Not
Absolute
Income tax exemption covers only the income
derived by the corporation in furtherance of the
purposes for which it was organized under Section
30 of the NIRC.
 (2) Obligations as withholding
agent for the Government The
tax exemption granted does not
cover withholding taxes on
compensation income of the
employees of the corporation.
(3) Liability for VAT
Purchase of goods or properties or
services and importation of goods by a
corporation organized and operated as
a Section 30.
 INTERNATIONAL CARRIERS
International Common Carrier refers to an
International Air Carrier or International Sea
Carrier, as defined in Section 3 of RR 15-2013

International Air Camer

Refers to a foreign airline corporation
.
doing business in the Philippines
having been granted landing rights in
any Philippine port
 THE TERM CORPORATION
SHALL INCLUDE
1.) Manual Filing
Every corporation subject to tax shall render, in duplicate a true
and accurate quarterly return and final or adjustment return except
corporation.

2.) Electronic Filing and Payment System (EFPS) 5

To provide taxpayers a more efficient manner of filing tax returns
and payment of tax dues, the Bureau of Internal Revenue (BIR)
introduce Electronic Filing and Payment.

3.) Use of Electronic BIR Forms

The eBIR Forms, as provided in RR 6-2014 and RMC 61-2012, as
amended, was developed to provide taxpayers particularly the non-
eFPS filers with accessible.
1.) Manual Filing
Every corporation subject to tax shall render, in duplicate a true
and accurate quarterly return and final or adjustment return except
corporation.

2.) Electronic Filing and Payment System (EFPS)

To provide taxpayers a more efficient manner of filing tax returns
and payment of tax dues, the Bureau of Internal Revenue (BIR)
5
introduce Electronic Filing and Payment.

3.) Use of Electronic BIR Forms

The eBIR Forms, as provided in RR 6-2014 and RMC 61-2012, as
amended, was developed to provide taxpayers particularly the non-
eFPS filers with accessible.
Thank
You