BIR issued RMC 36-2024 (attached) to clarify the manner of computing the Minimum Corporate Income Tax (MCIT) for taxable year 2023.  Since the MCIT rate has returned to its old rate of 2% starting July 1, 2023, the computation of MCIT may be done by dividing the gross income by 12 months to get the average monthly gross income, then apply the 1% MCIT rate from January to June and 2% from July to December.

For aid in computation, the BIR provided the below rates to apply for the 2023 taxable period of the taxpayer:

Annual Accounting PeriodMCIT Rate
FY 7-31-20231.08%
FY 8-31-20231.17%
FY 9-30-20231.25%
FY 10-31-20231.33%
FY 11-30-20231.42%
FY 12-31-20231.50%
FY 1-31-20241.58%
FY 2-28-20241.67%
FY 3-31-20241.75%
FY 4-30-20241.83%
FY 5-31-20241.92%
FY 6-30-20242%