In its petition for certiorari and prohibition, with a prayer for a temporary restraining order and injunction, the Philippine Association of Colleges and Universities, Coordinating Council of Private Educational Associations of the Philippines , and around 30 private schools asked the tax court to stop the implementation of BIR Revenue Regulations No. 5-2021.
The new regulation said educational institutions must be "non-profit" to avail of the tax reduction under the Corporate Recovery and Tax Incentives for Enterprises Act. The petitioners told the tax court that if the BIR regulation is implemented, they "would not be able to avail of the 1% lowered tax rate in CREATE Law."
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