Explaining Minimum Corporate Income Tax (MCIT) with Sample Computations 

Annual Corporate Income Tax Due at 04:54 should be P550k and NOT P670k. Typo error, thanks!

Salamat po sir sa mga short and useful na mga videos nyo. Nakakatulong po talaga

Appreciate the Minimum Corporate Income Tax Computation and the sample problems which we can navigate from time to time in this tutorial video Sir, this is great for tax neophytes like me. The illustrative computations are brilliantly explained for purposes of taxable income tax computation withheld from first to fourth quarters are clearly described in a manner where computations for the net income tax due per quarter in relation to the taxable year within the taxable period as regards the computation of the net income tax due and lastly in terms of relief, the annual income tax due, based on revenue regulations in the year end upon the filing of the annual income tax return. More tax tutorial videos please to enhance my awareness in the area of taxation.

Thank u Sir... very helpful. Unfortunately, I didn't know that this video exists before we have taken our quiz that's about MCIT. 🤣

Hi Gerald! Is it Ok to pay the MCIT annually instead of quarterly? looking forward your response. Thanks in advance.

Hi sir, Tanong ko lang palagi po ba iniinput ang prior years excess credit every quarter sa corporation.? Thank you .

May I ask sir.?? What if the records of ABS company, Corporation, Domestic, organized in 2015. And in the beginning of 4th taxable year in 2019 RCIT is higher so the RCIT is the tax due at wala pong excess of MCIT and in 2020 still RCIT is higher.. May question sir is what is the tax payable of 2020?

Hi Sir, may I ask why the Annual Corp Tax Due used is still 670K, and not 550K, when using MCIT from your computation of the 4th quarter tax payable? Hope to hear from you. Thank you!

Sir may I ask on the 2nd quarter why the quarterly corporate income is 990,000 not the 660,000?

Thank you sir!

Thank you 😊

Sir, yong capital gain tax meron bang penalties at surcharges? Deed of sale was notarized on 2017 and after seller died. Ngayon lang ayusin ang papers. Worth 700k yung estate. Can I avail amnesty tax?

May I ask Sir if Non Operating Income is also considered in the calculation of MCIT?

Hello, sir. Kindly explain also the BIR form 2306/2307 and cite illustrative problems. Thanks a lot po, would mean so much to me i'm kinda confused hehe

What type of business organizations are required to pay for MCIT?

Are u a CPA Lawyer? ☺️