REVENUE MEMORANDUM CIRCULAR NO. 50-2021

 Guidelines in the Filing and Payment of Annual Income Tax Return by Non-Individual Taxpayers for the Taxable Years Ending July 31, 2020 to June 30, 2021

TRANSITORY RATES Annual Accounting Period (Transition TY 2020) 

CY 12-31-20

Regular Corporate Income Tax Rates     27.5%

 Other Domestic Corporations with Net Taxable Income ≤5M and Total Assets ≤100M, Exclusive of Land                                                         25%

RMC-50-2021 by Joel Sy on Scribd

2018- 2022 and 2023 onward Income tax rates RR 8-2018

Income Tax Table

Not over P10,000………………………………… 5%
Over P10,000 but not over P30,000……………… P500+10% of the excess over P10,000
Over P30,000 but not over P70,000……………… P2,500+15% of the excess over P30,000
Over P70,000 but not over P140,000……..……… P8,500+20% of the excess over P70,000
Over P140,000 but not over P250,000…………… P22,500+25% of the excess over P140,000
Over P250,000 but not over P500,000…………… P50,000+30% of the excess over P250,000
Over P500,000 …………………………………… P125,000+34% of the excess over P500,000 in 1998.

Provided, That effective January 1, 1999, the top marginal rate shall be thirty-three percent (33%) and effective January 1, 2000, the said rate shall be thirty-two percent (32%).