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RMC No. 63-2003: Subjects local water districts to Franchise Tax and Corporate Income Tax.

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Summary

RMC No. 63-2003 subjects Local Water Districts to Franchise Tax and Corporate Income Tax.

Key points

  1. Taxes imposed. Local Water Districts are subject to Franchise Tax and Corporate Income Tax.
  2. Effectivity. The taxes apply from August 13, 1996, or five (5) years from the effectivity of Republic Act No. 7109.

Who is affected

  • Local Water Districts

Deadlines and effectivity

  • Effective August 13, 1996 or five (5) years from the effectivity of Republic Act No. 7109

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.