AGRICULTURE has been the backbone of humanity since the ancient times. When humans learned how to farm, this ended the nomadism of our ancestors and sparked civilization. Where there are resources to farm, civilizations flourished. Cities that were in the center of all these resources became centers for trade and industry. Today, humanity has advanced so far that farming has taken a back side and sadly, was less prioritized by some countries. However, there is still hope as our government is actively doing its part to improve the agriculture sector of our country.
Revenue Regulation (RR) 19-2021 is one of the latest issuances of the BIR, which implements the tax incentive and exemption provisions of Republic Act (RA) 11321 also known as "Sagip Saka Act." Let us breakdown these tax incentives and exemption provisions:
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