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Press Release Erroneous revenue order can bankrupt struggling private schools The BIR should rescind its erroneous order imposing a 25 percent corporate income tax on private schools, as it is a flawed interpretation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, said Senate President Pro Tempore Ralph Recto. Yung title pa lang ng batas, malinaw na kung ano ang intensyon nito: corporate recovery and tax incentives, Recto said. So how can the BIR invoke it to inflict a 150 percent increase on the income tax of private schools, which is directly opposite to what the law clearly intends? he said.

Sonny angaraNational internal revenue codeTax incentives for enterprisesCorporate recoveryTax incentivesSenate president pro tempore ralphசோனி அங்காராதேசிய உள் வருவாய் குறியீடுவரி சலுகைகள் க்கு நிறுவனங்கள்பெருநிறுவன மீட்புவரி சலுகைகள்