Gross Receipts Tax (GRT)

In this episode we discuss the following: • What are banks? • What are non-bank financial intermediaries? • What are non-bank financial intermediaries performing quasi-banking operations? • What are the different rates for GRT under Sections 121 and 122 of the Tax Code, as amended • Are money changers and pawnshops subject to GRT? • Rules for pretermination of long-term loans Feel free to leave questions or clarifications in the comment section below. We would love to address them. Another option is to email the questions to [email protected]. Like and subscribe, thanks!