SyCip Salazar Hernandez & Gatmaitan
  • Home
  • |
  • The Firm
  • |
  • Practice
  • |
  • People
  • |
  • News
  • |
  • Careers
  • |
  • Contact Us
SyCipLaw News

News Links

Announcements and News

Legal Information Hub

Briefings

Department of Finance issues new regulation to implement Republic Act No. 11635

May 6, 2022

On 7 April 2022, the Department of Finance (DOF) issued Revenue Regulation (RR) No. 3-2022 to implement Republic Act (RA) No. 11635. RA No. 11635 provides for income tax on proprietary educational institutions and hospitals, which are non-profit organisations. RR No. 3-2022 expressly provides that, proprietary educational institutions may benefit from the preferential income tax rates of 1% (available from 1 July 2020 to 30 June 2023) and 10% (from 1 July 2023), provided that their gross income from trade, business, or any other activity that is not related to education, is not more than 50% of their total gross income from all sources. The 1% rate is based on the Corporate Recovery and Tax Incentives for Enterprises Law (CREATE), which amended the National Internal Revenue Code (Tax Code). RR No. 3-2022 and RA No. 11635 clarify that a proprietary educational institution is not required to be "nonprofit" in order to benefit from the preferential income tax rates.

Continue reading on the Lexology site.


Social Networks

Mailing List Subscribe to our Mailing List
LinkedIn Follow us on LinkedIn
Facebook Follow us on Facebook
RSS Subscribe to SyCipLaw RSS

  • Home
  • |
  • The Firm
  • |
  • Practice
  • |
  • People
  • |
  • News
  • |
  • Careers
  • |
  • Contact Us
  • |
  • Privacy Policy
  • |
  • Data Privacy Notice

SyCipLaw Center | 105 Paseo de Roxas | Makati City 1226, The Philippines

Telephone: +632 8982 3500| +632 8982 3600 | +632 8982 3700 | Fax: +632 8817 3570 | +632 8848 2030 | Email: sshg@syciplaw.com

This site is best viewed with Internet Explorer 7.0 or higher. Copyright © 2012 SyCipLaw. All Rights Reserved.