Bill Type
Congress Name
Long Title
AN ACT AMENDING SECTION 27 (B) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED
Text as filed (link)
Date filed
June 10, 2021
Scope
Legislative History
| House Bill/Resolution NO. HB09596 | |
| FULL TITLE : AN ACT AMENDING SECTION 27 (B) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED | |
| ABSTRACT : Proposes to amend Sec.27(B) of the NIRC of 1997, as amended, to read as follows:"SEC.27. Rates of Income on Domestic Corporations. -(B) Proprietary Educational Institutions and NON-PROFIT Hospitals. - Proprietary educational institutions and NON PROFIT HOSPITALS 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, that tax rate herein imposed shall be one percent (1%): . . . PROVIDED, FINALLY, THAT PROPRIETARY EDUCATIONAL INSTITUTIONS AS DEFINED HEREIN MAY AVAIL OF THE PREFERENTIAL RATE FOR THEIR TAXABLE INCOME BEGINNING TAXABLE YEAR 2016. | |
| PRINCIPAL AUTHOR/S : SALCEDA, JOEY SARTE | |
| DATE FILED : 2021-06-10 | |
| SIGNIFICANCE: NATIONAL | |
| CO-AUTHORS (Journal Entries) : | |
| 1. Suansing (E.) (000 2021-07-29) | 2. Dalipe (000 2021-08-02) |
| 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.