Senator Villar Files Bill to Exempt MSMEs from 2% Gross Income Tax
Senator Mark Villar has filed a bill seeking to exempt micro, small, and medium enterprises (MSMEs) from the 2% Minimum Corporate Income Tax (MCIT) on gross income. The proposed legislation aims to stimulate the domestic economy by easing the tax burden on these crucial economic drivers. If passed, the bill is expected to provide significant relief to numerous businesses.
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