Corporate Income Tax Rate 2024 Ph. After 30 june 2023, the rate shall revert to the preferential corporate income tax rate of 10%. Philippines corporate tax rate was 25 % in 2023.

Minimum corporate income tax (mcit) is temporarily reduced to 1%. The 20% rate applies if the company’s net taxable income for the year does not exceed p5 million and if its total assets do not exceed p100 million, excluding land on which.