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Improperly accumulated earnings: BIR vs SEC

Improperly accumulated earnings: BIR vs SEC

SECTION 29 of the 1997 Tax Code provides for the imposition of improperly accumulated earnings tax (IAET) on improperly accumulated taxable income. The IAET applies to every corporation formed or used for the purpose of avoiding the income tax with respect to its shareholders or the shareholders of any other corporation, by permitting earnings and profits to accumulate instead of being divided or distributed.

File name: 212. Improperly accumulated earnings BIR vs SEC JFD 9.15.11.pdf
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Created date: Sunday September 08, 2013 00:50:32
Last updated date: Thursday September 15, 2011 00:10:30
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