Back

REVENUE REGULATIONS NO. 2 - 2001

Implementing the Provision on Improperly Accumulated Earnings Tax Under Section 29 of the Tax Code of 1997

RR No. 02-2001 | 2001-03-09

REVENUE REGULATIONS NO. 2 - 2001
 
 
March 03, 2001
 
 
SUBJECT: Implementing the Provision on Improperly Accumulated Earnings Tax Under Section 29 of the Tax Code of 1997
 
TO: All Internal Revenue Officers and Others Concerned
 
 
SECTION 1. Scope. – Pursuant to Section 244 of the Tax Code of 1997, in relation to Section 29 of the same Code, these Regulations are being issued to prescribe the rules governing the imposition of Improperly Accumulated Earnings Tax.
 
SEC. 2. Concept of Improperly Accumulated Earnings Tax (IAET). - Pursuant to Section 29 of the Code, there is imposed for each taxable year, in...