‘Tax exemption period excludes nonprofits, retirement benefits’

Quick Summary:

THE Bureau of Internal Revenue (BIR) has excluded nonprofit groups from the validity period of the Certificate of Tax Exemption (CTE) issued to corporations and entities in the Philippines.

Likewise, the validity period is also not applicable to an employee’s retirement benefit plan.

Also in the list are mutual or cooperative telephone companies of which income consists of assessments, dues and fees collection to meet its expenses.

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Article Details

Author / Journalist: Reine Juvierre S. Alberto

Category: BusinessStartups

Markets: Philippines

Topics: Nonprofit Institutions Revenue Entities Associations Mutual Period Nonstock Validity Benefit Educational

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 15:29:22 (1 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 436 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23721632

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 34 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 17 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

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