Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTION 27 (B) OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES
Text as filed (link)
Date filed
June 2, 2021
Scope
Legislative History
| House Bill/Resolution NO. HB09573 |
| FULL TITLE : AN ACT AMENDING SECTION 27 (B) OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES |
| ABSTRACT : Intends to rectify the conflation and confusion in the new BIR Revenue Regulation No. 5-2021 Sec.2 (c), which provides that: proprietary educational institutions must be non-profit to qualify for the new tax rates under the C R E A T E Law.Seeks to address the new IRR of the BIR that unfairly imposes a 25 percent tax rate on private schools, which is 15 percent higher than the 10 percent previously being collected from private schools, regardless of whether it is non-profit or for-profit.Proposes to amend Sec.27 (B) of the NIRC Code of 1997, as amended, to read as follows: B) HOSPITALS WHICH ARE NON-PROFIT, AND ALL PROPRIETARY EDUCATIONAL INSTITUTIONS shall pay a tax of ten percent (10%) on their taxable income except those covered by Subsection (D) hereof: Provided, that beginning July 1, 2020, until June 30, 2023, the tax rate herein imposed shall be one percent (1%):... |
| PRINCIPAL AUTHOR/S : BENITEZ, JOSE FRANCISCO "KIKO" B. |
| DATE FILED : 2021-06-02 |
| SIGNIFICANCE: NATIONAL |
| CO-AUTHORS (Journal Entries) : |
| 1. Mariano-Hernandez (000 2021-08-04) |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB09913 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2021-07-28 |
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.