RCIT

(redirected from Regular Corporate Income Tax)
AcronymDefinition
RCITRoyal Canadian Institute of Technology (Vancouver, British Columbia, Canada)
RCITRite of Christian Initiation for Teens (various churches)
RCITRegional Commissioner of Income Tax
RCITRegular Corporate Income Tax
RCITRed Cell Iron Turnover (hematology)
RCITRadioactive Commodity Identification and Transportation
References in periodicals archive ?
Under the Senate bill, beginning in 2019, the regular corporate income tax rate and the corporate AMT rate each would be 20%.
Schedule M-3 is a separate form to be attached to the regular corporate income tax return.
The AMT does not necessarily produce a more accurate measurement of income than the regular corporate income tax, especially after the provisions of the Tax Reform Act of 1986, and subsequent legislation, became fully effective.
Every corporation subject to regular corporate income tax must make estimated tax payments during its tax year unless its actual tax for the year is less than $500; failure to do so results in an additional to the tax in the form of an underpayment penalty.
The combination of this tax and the regular corporate income tax can subject the U.S.
On the other hand, Chua said micro, small and medium enterprises (MSMEs) pay the regular corporate income tax rate of 30 percent despite the fact that they employ 63 percent of the country's workforce, and account for 25 percent of the country's total revenue from exports.
Instead of paying the 5-percent franchise tax on gross gaming revenues, they will be subjected to the 30-percent regular corporate income tax.
FSC dividends attributable to foreign trade income (both the 15/23 portion on which the FSC is exempt from tax and the nonexempt portion) have no regular corporate income tax effect.
Chua said 800,000 businesses, consisting mostly of MSME pay the regular corporate income tax rate of 30 percent, while only 2,844 firms enjoyed P301 billion worth of tax incentives and other tax perks in 2015.
Instead of paying the 5 percent franchise tax on gross gaming revenues, they will be be subjected to the 30-percent regular corporate income tax.
Existing corporations enjoying present tax incentives may be charged with the regular corporate income tax after the lapse of the period indicated above.
With a new ruling from the Supreme Court, the gaming firms were put at risk of being subjected to the regular corporate income tax.