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    qnlrnr mlla
    After their income tax holiday period expires, export enterprises have the option to pay a 5% tax rate on gross income from their registered export business instead of normal national and local taxes. Alternatively, they can choose to receive enhanced deductions. The enterprise must select either the special corporate income tax rate or enhanced deductions at the time of project registration, and this selection cannot be changed for the entire period of eligibility for incentives. Gross income for the purpose of the special tax rate means revenue from sales minus cost of goods sold or direct costs, but before deducting administrative expenses or losses.

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    Document 2

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    After their income tax holiday period expires, export enterprises have the option to pay a 5% tax rate on gross income from their registered export business instead of normal national and local taxes. Alternatively, they can choose to receive enhanced deductions. The enterprise must select either the special corporate income tax rate or enhanced deductions at the time of project registration, and this selection cannot be changed for the entire period of eligibility for incentives. Gross income for the purpose of the special tax rate means revenue from sales minus cost of goods sold or direct costs, but before deducting administrative expenses or losses.

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    business and transfer taxation 2022

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    Document2

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    After their income tax holiday period expires, export enterprises have the option to pay a 5% tax rate on gross income from their registered export business instead of normal national and local taxes. Alternatively, they can choose to receive enhanced deductions. The enterprise must select either the special corporate income tax rate or enhanced deductions at the time of project registration, and this selection cannot be changed for the entire period of eligibility for incentives. Gross income for the purpose of the special tax rate means revenue from sales minus cost of goods sold or direct costs, but before deducting administrative expenses or losses.

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    4 views3 pages

    Document 2

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    qnlrnr mlla
    After their income tax holiday period expires, export enterprises have the option to pay a 5% tax rate on gross income from their registered export business instead of normal national and local taxes. Alternatively, they can choose to receive enhanced deductions. The enterprise must select either the special corporate income tax rate or enhanced deductions at the time of project registration, and this selection cannot be changed for the entire period of eligibility for incentives. Gross income for the purpose of the special tax rate means revenue from sales minus cost of goods sold or direct costs, but before deducting administrative expenses or losses.

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    2.

    SPECIAL CORPORATE INCOME TAX (SCIT) rate for EXPORT ENTERPRISE


    After expiration of Income Tax Holiday, an Export Enterprise may avail a tax
    rate equivalent to five percent (5%) effective July 1, 2020, based on the gross income
    earned, IN LIEU of all national and local taxes. This is available only after ITH period. Export
    enterprises may, at their option, avail of the Enhanced Deductions or the SCIT but in no
    case shall both be grantedsimultaneously.

    The option to avail of either SCIT or Enhanced Deductions after ITH period
    shall be exercised by the RBE at the time of application for registration of the project.
    Such option shall be irrevocable for the entire duration of entitlement to such incentives
    (IRR).

    GROSS INCOME EARNED refers to gross sales or gross revenues


    derived from the registered project or activity, net of sales discounts, sales
    returns and allowances and minus cost of sales or direct cost but before any
    deduction is made for administrative expenses or incidental losses during a given
    taxable period.

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