Rappler Talk: How will new tax rule affect private school operations?

An organization of private schools in the Philippines said the new tax policy, which would impose a “devastating” 25% corporate income tax on them, will hit parents the hardest.

The Bureau of Internal Revenue’s Revenue Regulation 5-2021 (RR 5-2021) will impose a 25% corporate income tax on private schools, cancelling the 1% rate offered by the pandemic rescue package of the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act).

The Coordinating Council of Private Educational Associations (Cocopea) called for the “immediate rectification” of the regulation. If not rectified, how would the new tax rule affect the operations of private schools as well as the parents?

On Thursday, July 8, Rappler’s education reporter Bonz Magsambol talks to Cocopea managing director Joseph Noel Estrada about the implications of the RR 5-2021 on private schools.

Got questions? Tweet us @rapplerdotcom by using #RapplerTalk! Tune in to this page at 9 am on Thursday to watch the interview live. – Rappler.com