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    114 views202 pages

    Toaz - Info Income Tax Reviewer by Tamayopdf PR

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    Lia

    Copyright:

    © All Rights Reserved
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    CPA REVIEWER IN TAXATION: BOOK 1 BY ASSER SAMSON TAMAYO BSC Aco C8, EB ‘Rs Mate Bape op 200 gre Pein Pi TABLE OF CONTENTS 16 ite ee Iehusions in te Gross Income: 0 Passive Income Subject to Final Tax 28 Capital Gains Tax and Documentary Stamp Tax 142 Income Tax Cases Part 3) 197 Dedetions from Oro come (Sepenser in General interest and Takes) 225 Deductions from Gross Income aes] 240 (Gnd Dette, Depretntion and Depeton)=———-- 253 Desictions from Gross Income (Chatable and ‘Other Contribution, R& Dand Fenian Cont 265 Deductions from Gros Income (Optional Standart ‘anor Hospiaiation Instance) a5 Nema Not Deductible 284 Income Tex Cases (Pat) z 289 “Tax Returns Preparation apd Payment of Te sat ‘Comprehensive Tax Cases ——— 309 Chapter 1 ‘TAX ON INDIVIDUALS, ESTATES AND TRUSTS fort i rpeione Me e-Ae e 1 R.cizen of tne Phppines who estabiaes to the sation ‘te Commiaslone the tact of hs phyia! Presence abroad * from souree stroad and whowe employment thereat rece ‘Reference: Section 2 (E) (2, (2) and (3), MIRC, as amended ‘hoon wh hsb prev consid nonzeient en Sear to rene peemamenty tte Pritppines eal kee ate Income ere rm soe rest un ea dy of he IReforence: Section 22(H) (0), MIRC, am amended “Tove conatare pyscally present abo most o he in during ‘Ricronee: ection 2, Revenue Regulations No. $79 ‘Refract: Section 22 (2) (4), RC, a pe ri eats pple Sete me hay ‘Amen angen eet en ea the pes os 3 Sometime indo oe cide 27 athcmus acgalmtions & resident len ‘not erage in trade ov bens efrences: Section 22 (0, MIRC, on amended Stction @etenue Hegustione No.2 ikirenct: section 25 (8 (2), (C) a (, MERC, amended ‘perenes( m hn and wthon he Pitino, ‘S. Sxpore male are not subject to income ta ‘ference: Section 2 (Al (8 (©) and(D), KIRC, nx amended ‘Reference: Section 24 (A) (1) ah (0) and (cl NERC, ae amended “nical income tae seperaalySoved on tt eopectoe tot “aentibed ome lay came 9° rain by ether othe 2 Gay he rt neseent cree Reference: Seetion 24 (A (1) (a (and (c, MIRC, a4 amended 1 Seaiorence dal fe subject to snneome taxi the sane anne ax Reference: Section 26 (A) (1 MIRC, at amended 19 A icemed a nonresident alsen doing business in the Pillppines te ero anarms eaten “; Seas More than one hundred eighty {180} day : eres ee _ Chaps Taxon nuns tat nd Tra FESS ERS nemo PSS Skeey Reference: Section 25 (8), RIRC, as amended {he proms income receied by every alien Indiduel employed by Seer couriers rd reqs! operating Nene SERN taipince ty mimo companies hem such {SeimilStarea eatin eh oes operates a eenty-five percent (25% of such gross income, & Srey pein i of mcrae income G ESSREENTieh of anch gee ncome ee Sane moun males amit © Sere ‘References: Section 25 (Cl, MIRC, as amended Soki02 SAE [oy tae Regaactone no. 2.98 (Sapte: Taxon Indus tte nd Tat ‘References: Section 26 (C), MIRC, as amende Sicilon Aisi (Dy Revenue Reputation: Wo. 2.98, escent nt tet eso Pepe goer [Sa Fae rey ne ‘Retorancee: Section 25 (D), IRC, as amend Section Are (ty Reweowe Regaiations Mo. 2.08 “The se to treatment shall apply Filipinos employed and resonant car stone a howe of tens eave by Section 25 (D) MIRC, we amended Seckigd Sse (ey, Revene Regatetlone Mo. 2.08 Teale to the ad office or exon, wether om a ” ements supe ty OBOE walt ae oe © Only the first statement is correct 4 Gniy me second sateen i corect ‘Reference: BM Rating Mo. 147-98, October 16, 1998 ‘A tranch, subaldar or fiat ofa eign tenkng corporation AGP iy numer ty te Bans Sona ne Bin OSI to ‘Cananc oahore banking hannen the Fsippnea tn accordance Sib eta NONE eee by Cow ‘Refcrence: Section 2.22 (D), Revenue Regulations Ne. 10:98 {urwha is employed and sangned tm the Philppines by aorcign ‘cre cmt are ere urcor eengt in Th tel fee parce (Ze of auch grows income, S Biren percene on of auc prose sncome ic cen sec oe oie {Reference Sectlon 25 (8), MIRC, as amended “The same tae tretrent shal appr to pins employed and ‘iu at anna eet ae aren reg Managerial and technical oscone © hankcane fle postions S0cidn 2004 Wr kevenus Ratatione wo, 2-98 ‘ny income ene om lotr sources within the Pape {Beaten employee of Reson r ren Henaguartre and ‘BEniGes Unies ahd Pevoicum Service Conworior and Suttontactor oh pertinent income tx, onthe be, under the teen percent 15%) fat rene peruano) anal ee SL thingy perce (00) nl ‘Ripe tata opm rls, onge, arate, SY acanae Fl ek aol a eres ark ego (ras nome: Nove huey Tha the eet one hal ‘ppl te rpms employed and oxcpig the sme poston wv tase of ‘era employe these rina compares. Forpures hs Seer ee heel cpr Nos aoc eo ty Steed nl en lac ma oc Sse nthe sac Regen and ther orgn marke (rr ated wel pt oth tases yo pon tha gia Binene red by soe ates dual ployed oy atone ‘Dapensation Tertuneraton ed cher emeturanta sian a honoraria ‘Edlalecaoe Fen chr fntng wa son ‘a Reatment shall app Flos emplonad and oaiang ae Dont ao thse of hens employe tse ahora (By Alon rua npg by Perel Service Conran ae ‘ocign coat iat ana’ employed oni atid the Pagpones by Sper a nt one aot bern ‘Scat cri operons ne Pippen chal be table © ‘Sopcast, remuneration on aor enohohent, such os honoraria Sete ae ne hee tae ae ae ‘rot el cies pana bane of 25 Anan employe of an tsore banking ith he lowing "Slay rected rom tbe “on he pes posta 30,000 ori gl in ef dc ened Heer woncn ro9c00 x 6% 7 TED ete: Th intret nama open dept an the capa gain fom Te Rane a doncnte rmreton shal be mie Spc en fe con 1) ad Son 201 “rom the amount of procs compensation income and/or net business \tnjor profesional income, ae te eae may ear Persnal, in Pah expeneee of cial expayer Resta Ordinary deductions haters Taco nds aan Tres [Reterence: Section 9, Revenae Regulations Mo, 2 ‘otra section 3 me SSSA ay ta Le 008 fetecive July 6, 2008) [Rfercnce: Section 25 A), MIRC, ae amended by R.A. Wo. 9508 Sainte ont of morta tans ne ony ak ofa Sane magne chaoui a he pea Soe aie ee cee om P60 000 ony Baa. ony ‘Reference: Revenue Regulations No. 2-08 page 84, yin ioladbe jeteceve suty 6, S008) 30 This ane or bth parents wi one ane brothers or otra, oF ath eo one en se Feaenned anual gly aod Binge’ Re Separated None tte choices ‘Reference: Section 36 (A), MIRC, a8 amended SRS a Afarect: Geetion 2 (A), IRC, an mended mare un wcprene @ufgearaarage 7 MPO Stes also dant mines [Roframee: ection 5 (A; HRC, aa amended singe aide supporting» 24-year ot ther incapable of ‘Nipptteenue opel eee anal gual ae Bend of fam Soe oeahe ee 38 iy, URC, v2 amended ‘Rowenne Roguition’ [mara Raa Toml mene Tc thenewme einen neoriagel ety Tiles ee etree aioe, roared net SICA ePaper ach canbe or Sater ean ee tear cieuport fcc ef mana (ieee ee ae es ee en or ester ctken —genelactor ‘Reference: Section 2 b., Revenue Regulations Ne. 4.2006, [Reforance: Section 7 (1) Revenue Regulations No. 42006 ‘Fhe Benetnctor anal reper the somone aie Ineine radi over the nce where he/she and he <4 1imowea fem ncome tern GT he baeacor ‘Gen'Aars(O8CAI 1D munbor of he dependent senor Reference: Section 7, Revenue Regulations No, 42006 Mare tapyer sporing a itimate cil, 6 yen EIS SSRNCS altape sup omer, 25 years ou iyncaiy incapacitate, pte 1 ton ndivis xate ons rast ow much shal be allowed tn sdatonal exemption for etch ‘efrence: econ 38, RC, av amended by RA. 9508, “Sth fr Revenue Requistions Nos 28.08 ‘gym ne. 16.3008 ofective ly, 2008) “Sidi! exemption for quslibed dependent children wniews he ‘Spicy wares ron ies ‘& Onip the second statement a correct [Rrftanctx Section 35), IRC, ne amended ‘Rovunds Raguitione Ror338 pare 98 ‘ere the spone a he emplaye e nemployed oi nonresident ng ring name ren wee ecg sponse ‘hcotner sponte wanes hit right in favor of the employed. Regulations No. 2.98 page 85 tn the cat of eglyneparategapoutes,adaonl exemptions may SMe nt Tin wo tag cory of he to ren ‘tional exempta ay be eae by Sh shall ‘feromee: Section 36 (5), MERC, a amen aa legume cing References: Section 35 [), MIRC, as amended SRR Fis ota Re enatatone baja i's oe a a sir TT seer alguna men dpa fe cig \tenetenehidentaren nar con Tojo Ce arian pararaph Rovere Matar Nb 4208) © Untied or enh ep 25 (), IRC, at amended ‘the support ered wy Oe pene ‘EiiEence: Section 1, Revenue Regulations No. 2 2 Lie aoe econ ge AEEEELRe, section 11, nevemue Reguations No. 2 ‘Fac Ely on indome'nasduon, Beufomin D, Teodoro MELiceer ade Lson, 2001 raion, page 208 “Tag a te pte pg nr aes na eat ae ul orphyscal dling gether bins an wer a reumatancs the ase of concn ares hay ‘Sura the sparen mst be onstaoe 4 rr ln th etre abroad nt there nid to rece STAs Sen Pe anaes | 2fthe taper marries sul we sina dependent ing, 1 the wpa may ca the coresponding additional, ‘Reference: Section 25 (©), MIRC, es amended 49. Which ft flowing wl change the wats of he taxpayer? 2 sige Spat ihe ayn ‘Refertee: Seaton 35 (C), MIRC, at amended esc iy pe dn he pa hae enya os ose guy ome at ‘Rofrcet: Section 36 (©) MIRC, as amended (2h CPn) among dese taxpayer, whose persona exemption i Sse icity aire x Coa 'b Remevident gn he tell comet the Pippin an aay ‘rea age porcine han 188 dave Sine Fiptos wie area rennet ar aertang nem om 92-The ehilgprios sin two (a gual dependent cen Hin ‘Country gies nonresident Filipina with income therefrom a basis sbieeealencentan SP 30.000 nd naan sxerpaon of P3000, Rechte to ta! peranal xcmpions ot 3 P 32000 a. PAx000 mentee merce, een ae ‘Stlowoerd sv che income ta tus tn Dre sundry of whack he ta suyect Sete oem len eke AESSorray th torn Nada thar sot novveadert een should Bate Benen faeces ee ae eyecare de cus raves rae pic | Riese tes ra cree Sapte re cae vane prea ti eamineinaias Ha Srecrsh earecmamn ieee He eptiin Sree mT hm Sansa ae ene + Borie agenesis em ia ection annie 1c Amt aes ig ce om Pg atten at eo lt dr oe Cah erent emma tons Lee ee ty Seem aes ERE ns ey mma pe 020m TRC pasa mccgrn ees cae ee ee tater pro deen ee eee Soh Sckeneariss keer 2 EERE ance memet soon * Eni e eeeraaee Eee ngs ton ne 250009 ‘© Legitimate child, 21 yonra od, with « arly Income of 44. The spouse who as the higher income 4 Brine 2 ga ot aeeapor beni fewer an ening 7 59. Total family income inhi prmary income and other sncome fom Toure rowed 56. How mich of te premiums paid during the table yor for health te the husband ont ‘Seton ures or th wagner oan Se cay nt Sot cna foe ttn fr Ran pee F240) pee GM esembere ofthe ler fei Famuly or fw hundred peo 0200) a monte ‘a ote dan Two tonsa ur hdd peas 2400 per newer: D fam orf hundred poss 200) a mont Iforomet: Revenue Reguations No. 2.98, age 40 Setar rein rhc peso (9400) For to exteed Two tousand four mundred pesos (P2400) pee 50. Which of te fttowing shal! be considered muctear family? Sinus or Rew med pesos 00 = meh Fae: monument tone aust vo Binge rent win tren eforenet: Section 248, IRE ar amended Atte person ting lone ‘Refirence: Revenue Regulations No, 2-08, page 46 (2. Aient of property, rl oe persona el by one perm forthe 6. mya vpn inal aa ap he nef snes : ine rece rite tenet sme ‘come mote rtf he on of abr nace “Pre for future cebu war the toms of the oo aa (2) nme tab etait curonty by Oe diy tothe ‘eft nt orn yuan fort hes ove a mn of cd eos rig pra yh ES Sete often, may be ether ‘Gertie We boars a ccm ‘64. The tax imposed on tnt sal not apply to employee's rast whic ‘Dimer ofa penis sas tu oe prodiceneng as ofa Soha ie hb tenet of ome or ah ae empovee TN conttovne ae ase othe runt much employer “lnpoyees, rb he rons ot na Tose ‘Setar nroraance mh age pan ‘come tobe (wii seat ea ox ghereate we for Sat hiscorert, adem prose ase ttetant nr ere ‘Gistrbuted #0 the rte hat itenoeeds the amour contribute By era ec eae ae Pipe eto pa targa ‘References: Section 60 (B}, NIRC: as amended ‘SISUSR G8 fel an, Nice, ne amondea See eae er eae ae Spice penk isn Fa a ce hy seg gmemae name Srecne ee mrene nore et as an reer SIEREIEFSua a ts ae yon mics properly pa or reed Afarenct: Section 61 (B), MIRC, a amended deel if tc vans hy eo] Tad ‘ornare te poof ensraonorcetoment of the a, nd mine cane of sme who he reer he far Anal tate ten ‘tinue as an oaagonal aetacton computing the axle ore of thee ra et of the neo ofthe or et fo pans Sno Benapny bute anc ao etd sng decent ‘Shale cbc comping the taxable income ofthe lege, Pe OF emery ‘uty thet penton Bobs ae of ction 61 (), MIRC, aa amended arson Cuomo ales sete sd tant th hor easumen ‘at the personal exemption allowed t nna tdadal tae tea Nestea crt exemption alowed ott and tat cha bar Socata in puntr te oy pata cas tenants esta fo Bai coo nc ik any parson ot hang ineicane arg ol mony eran not hasan ‘atten ne spot of uch par of hrs oh ‘ara rf hp fo a a cat See ee 1s, Wire any par of he income fe rus mayo inthe tye ermine 1B, gr ote nen a hang aba are natn the Mapes pur of hana mabe had or cana fire ite enn ary, or te acon of ‘icles of any per at hag ta are ree 8 Be Mogren tachi of te nee erate otha gra, SpE iene ae te ges af any pero at Rating Subse! edere irs ih poston of ic par af thane ihe feo te proton char ef the ese of throat ok Be ‘eu componente em one aren ‘toate green ofthe gata har one or orcs ‘percent ere ore! nie ‘Thousand pesos (P20,000) during the asa Year © {he in et ac baw hee ori of te a ot ‘Bec rue ana corecty ad be muject to ll he rowan ‘FScammendaten of the Commissioner, ail prescrite, sail Sou seaplane eb worement hea ip iia icy copay ha reer aap euraf he Bilas Spee te, oh oop ona e SRE fort ate ssa rman icome af Tent ‘thousand pene 20 bles a ean Eeee a fins ation fs hi 7 Sha ah ath a he sere ment ge ‘Melme ie totee ek Sree tl fea and arc art be ute he praitete Tet Hs nape dake: el Pt return Tt acfete ets ors ant haces fled th prov ‘Eivtioy e/Pineney wat mcannanciton af he Commune 9 ete tal es ane cnc wah he esr 13, Pg statement: Where oat under fll administration, 1200, Revenue Regulations No.2 ‘Scetign 390; Revenue Regulations No.2 Tr income received by the eatat ofa deceased person during the +», EitGi Ufveling ice over the appraised vue placed upon Ritts Seetion 211, Revenue Reguetions No.2 ‘Scction 214"heveme neguiatons no. 2 ‘xcept income sujet to nel witsholding tax and income exept & Siapoyere true reneesSoctoa 207, Revemse Reputation No. 2 vw. Ree chet Uacther creed by wi or See or, ‘Refine: section 210, Revenue Regulations No. Chapter 2 ‘TAX ON CORPORATIONS, PARTNERSHIPS, JOINT VENTURES Sh te mf oa it pal yn ak ye ar ateiple Cho 1 General profesional partnership 2. A partnership formed by persons for the sole purpose of exercaing {MEW seman pres prt he ne Sw ee © Only tne fist satement correct 4G. Ohi the second tatement in correct ie term domestic when applied to corporation, Reference; Gestion 22 and), MIRC, an mended _ Sent red ‘he pore uraratn sneeron projects eitce contact wit the Goverment Corena projector orton are parmarsis med by pra forthe sole uae feet ar cmonprofccon par of he mee of ck SAE fom engaging any ra of Bosna C. Meter Women sten cope oe cxpertion means crated Sr md he Ms ane ea 4 The term applies oa foreign corporation engage in trade or ‘Reference: Section 22 [,NINC, a amended 5. Term ape wo rig copra nt eng nde ‘Reftrance: Section 22 (RC, aa amended Rare: Section 27 (A), MIRC, as amended 1 thio ferent (320 4 tremteve pero 2590 . Povo the sate ‘ome shal be somaputed without ara shail ‘ace hae “sein earned and spent equaly for : fom by ‘min sur of month covered ‘Riftranee: Gection 27 (A MIRC, a ame gsc tence te defor th en yer ending My 31, siterane cecio rons Skok eS cj tae agar che Foci hes Sete we pateacs wl ser Saaucons ee iene nd toot the flyer ona a ‘ome ane en co re st sn rch nh of ‘rapid by muting the mune of months covered by te new ‘Been pl yr byte tab na ote oor Fecal Lead iy oe | Soninens da | " Bomucuna, Ua" (3800.98) «.050000) susan ‘sca “enyopesaoexs/iax som 2.00 se Ezosaso0 To i om incre Feat Bann D. Teodoro cuter 2| taxon Coors Parner, it Yn Tnotner by contsbuting capa area, and sharngin the pros or "SY hc Law om dncome Tanaion, Bninmin D, Teodoro IRefroee: Ratangas Tvane Co a 14:2. we. Col, CTA Cave Wor Fir augue 1s, toss 1 Ltr iocome Temuon, Benen B. Teadoro 13. commercial undertingy 2or ore ere, Ua sina ofr cmpon oo se ce Referenoes: Articte 1783, Civtl Code of the Philippines {ities bicionusy for Acsountnate ‘ip Liss neers Featow Beata. Teodore ‘Ofte Secretary of Finance, may allow ecrgoratione the option to be GRE Sf what oreo a gous lncome, afr souaing crea GL RlcaRiwe pescont 25%) Tem pereant (105) {oapnr2s taxon portions Parris, je ens [Refrenee: section 27 (A), IRC, at amends ‘Revie, ute, That the President, pr he ocmmenation of the Sota nrg le ary 1p tne ‘neopon tote ten perm (15% af ge ince SS ce one MeO tine hat Beast AS pet tot 20) of Gace Nate Pratt 2) [alo of fry percent HON of come tx cain ta tax (gy AA eer of fur param (8) of Fan Fy Aes eb ele he Sm Ne Sor nc se pnd ot Hg in anaporng the gods to the pace where the goods ‘Ail east of production of finished goods Be semanger macnn gah atop a nde ‘rons rg goa ot pce urate god re ey Pore manufaciingcmewr, at of ade marae and sl Thad nee aration fed onde soe a ote a, et ey arcing rh eg, (wih foaary srweretouse, aol ‘Ru qrst sume ees Sale natura. losers and Giscours ceri Jn Ventre Reflcnce: Section 27), IRC, ne amended orpurpocer of as erin pt coats so Ta he em ‘peta roe Sere fem Attneea SRST SOE (eoptales rena, dots ar ances ad cnt dso Canto gos ld stl inclu al ons empresa “SPF percent (2059) ten percent (855) 5 Twente percent 25%). enpeeant ay “Scoede ity percent (30%) ofthe total vous income asrved by ch ‘Esc alan or hupae tren ote SL sey percent 0% . iteen percent 1559) 5 enti pect (25% Tem peeene OM ope 2: Ta on Cocportns, Parris, Vesares ‘Reference: Section 27 (B), NIRC, as amended MSSegneS 7a) pec Eaetitonaliatitine nd Fete eran hector anon nt hosp which see al py nea of ter parent (0%) Reta Sr hl tently Sinsetp ara ad as ‘Gos neocon un mca other act ce ‘atts SPO at wae ne ded usc cna eee anal tal ce te cid Pa ea a ay tia: snes or caer act, te cont of Soe et lly ted tote xen or erence ch None aa at Kapa of primary bose orion td emaricored by practe nada or groupe wth a omar pert te ee pl whee sien! gruaten ae ined ees aloe an re impoved upon corporations or aaciatons, Spee araie ty Waencee near. orm “sGerament service innraee Sytem 518) SERRA ir nt Gaming Conpocatin PAGCOR) FRITZIne Chay Seecruates oftee CSO) rapes 2: tan carpratonsYorneips ot Vetires operatians. ‘eencien ov naman.” roce of ey sel ‘ComenmuntSwveee Insurance Syst 16809, the Seca Sent ‘Sen Stl lin ean auranaeComeraton PAC). ond itp chery Spence 21 na ne min open nce a EE pt een perce 18) ine percent 3. empertent (10% Bes Forene fn IRicrices: Section 27 (2), MIRC, an amended Section 229 fs ty Revenue Repulations to. 998, 2. ate he minima crsorae nce tx (MCE te nosed ve een pve (255) Five percent (5% een Rie pera en ‘Reflrences: Section 26 (A) (2), NIRC, as amended ‘SScige 256 Lf Reve Repeistions No. 9.08 fa Both Land Ware correct & Only Lis correct $ eihecPaorWiscoree: Onion pie 2 Taxon Corporates ain Venues ‘Rlieicbe: seotion 2.27 (m (2, Revenue Regaltions Mo 29 SrUictadeal WP atenae Raguations no tse00? Stee SSae ia (hs Revemee Reguationa No 998, amended by Revene Regustione No. 12007 23308" yer we he a MACK be fmpowed on sch Eos meno 3.27) Revenue Reales Ma 5.28, Beane a fee oft tate er faces loa opt ‘ea deneing an he acount pared erage hey impose | SPS Tae ran tina oe fe semrey etneeans Spat ec a eo 1500 ening Serif deans ops ho 3 ppt a te tinea tng ferret erprate income ox Setmecmnt iene eiepiras tas, Suncrt te te a ng the querer torpor icone tax Siete weenie een aera «Inthe payment of said quarterly MCTT, excess MEE from the Soraya tena Saal ‘© Sapiens ur ie nova income anya the MCT pale in Gieprevous auble qurter/aare not alles to be applied Regulations Mo. 13:2007 27 fe) hy Revenue Regulations apm of ery ono wma a ih Tas Ce om he computa oft due the tae quart, fhe Rial iy MET Nik th ty el oe ‘HE quarto npr come tach Sel fe MCE whe (porn (20) ofthe gross cme as ofthe nd of te ae prt ‘nin promenof a arty ME rg ME fm pri ‘ian wnting an, quart parte come tax payment tt rr in Mp pte 7° eal nce tan on MCT, eae se tae wld ‘ibtnkhing taxes trom prior years are a fol = Zoolon —inosn00 See Reference! Bestion 2, Revenue Re se. 12:2007 ‘isending Section 2.97 (In Revenue Regulations eae mcome nono riagoma, zane ‘Quart erpcte nem a ce er P0000 ‘expen er sanano See ce. | ‘ups nome e000 taper 2: exon Corporations Parnereips one Votes sites er pt poe |S _sos.o00) | | “roxpaebie O47) 205.00 Normat ncome tax FTSUG00 FHsDoo3 Faso.003 F"s0-900 Sam. | aca a “eprom crn E1so00 = ee 2 ee es a 2sana voor Net ena am | 2 Nae men EE ae (aa int oy pes of te wet a dee he (isisconraucrl oo oeratee pode a the Cade, compotion sarin, cuter ig ie Palgpinsh, hal be me ‘Strate tax eure to rey fe orc (20%) af te aa Tura dae Weecedts kale yer from i sacs he Spay waes ar afleses Jonson 500% tw ftom eis Rotnean So Ti ass a cpa ene ep O aaG Pd et pinaster trensacions sear Tr canoe SRS Nee se St etna ver aed an SRoxtepty foreach moo pra Erna te nub of mane tered by the peste ea the eset heat tame ofthe craton forte pera Sali tc ‘resent oc corer ha ern he io 0 be ae ‘rowed inte Tec ogee Tpaegrecen hg Been pre ‘orte- section 28 12) ast paragraph, MIRC, as smendes Tne honaver Tht etn fre cope cha be reed Trenton beak stim feces snp rss income ee Nenana prose Secon 27 1 feojatd one maf pecan E28) on ke Grows Phitippine yee: Section 28 (A (9), NIRC, as amended oe es £3 Flannel Curin_r nematnal ar dig bias Se ee a tn ‘Grote Blin tings deine here a ea a “tater aie ings are te Seine pe ctmad rent haw os lege ne ors cts cg Roe rr oi of ole ‘Sool Pacnabis eer “change ander treo eset al neo pa ofie ee pg bngs Flas ls nl hE Cpter2. tse corporations Parner it Ventures | ree a ar OR TIES Foe ‘alge fer msc of pangngu tes Pace omy rot Papp mth i a raaahimant half of Ooet (oy nacmatonal shipping - Cross Patppine Blings: means gross se tie Er Bacntger care ort one fom he ‘nya apc fects pare he pee of ale of cn a wag or ak dune, ‘¢. Tucks sold in the Philippines for passengers originating from the Pitppinen uae et cel owe 88 petra ly authorised by the Bonghe Sentral Pilpinas (BSP) 0 {Phhhe atahore tasting busines inthe Phipnen acorn Severo Reese ttle Cow Bifieich: ec. 2.22 (2), Revenue Regulations Ne, 10-98 capers Taxon Coportins Farmers Jn Venues 237-Wnich of te flowing sal be mubject 1 10% fl ax Spc ere ut ng akan wy she ‘Bone Sentral ne is 0 em fren eae ‘that may be authorised by’ the Bangi Serra ne Phin [Bsiy to enact wusiness wn fare terse te ' GJanted to readent ther than feo anita ‘Srumereal bank including cal once of eg San {tie ee yo Po woes tea ction Sm aa of fac fas on Foti Cotporation [Riven Ronde Bolg Corporate (tyofehre Banking Ute Toe pois of ayo the contrary estranged y hare oan nt mao gt a ee le om Foe rene te en ue cher ator banting was at ‘Sion bythe Bangs Sora ng Pitas 1) to raraae busines ‘Diener er ins ont at ase ce et ‘es open eaemencin 9 Oa ncary Saat hich ta be ‘Rabon ison dese pom fort cureey toons arated > FENG fatal wench a forgn bak st may be athena by Be ‘Bae tlaage sess a fore banking ut, ha be ute (Supe nal ta anh af en prc OM “any cme of moneda, satya ot eorperatons, fom es aa iene i ne ok {epi 2 Taxon Cnn Parra la Venn 38 Neat atice shale subject towhat percent tae wheal be {Stet on the tal protean or earmarked or rman Teves which are reed i te Piippine Benton hase 2th percent 0% 5 Fifeen percent 115%) 1 tent ine percent assy). Fon poeene 10h) creck: Gxetion 28 (A (6), MIRC, as amended ‘Section 28. Rats of Income Pax on Foreign Corporations Sapte eter {5) Taxon Banc Pris Remances- Ay pot rented by a rane (Cuenca ft ae OY el fa ea oe ‘ag deduce fort tat componshe reef exe Tavs acea ‘Stone 57 ee of tha Ca rouse ta at en, Fre Tete cg rvanenon feel eres ses, ‘Dapen pom eeu oman ter feed oda ral poco anual jt pir ans cal ge Re efi er ag ea tab ea poo ‘Sec th he Phipps Shalt ree ae Brats ‘iesciathe Pies 40, Wren of he flowing corortone shal py tax equ o thirty Pe Relator area headquarters 11 Repona oprmeing headquarters ‘Reference: Section 28 (A) (6), MIRC, as amended ‘Section 28 Rater of income Fee on Foreign Corporations (iracen Rene Porgy Corton (ey Regonaler Ave Headquarters an Regional Operating ‘ieee nara Congas ta fata tf dad i Saon 200 shal “apes 2. anon Coporntons Partnership ne Ventre ‘estan 23 (DD Ta agional or ares Rasa Ta a ‘iret catenin the Mpones by muna span and ‘tea anche capac toate wel coraiating center Fecha Wee erences tha ata Pate Seon Sul inerfrcgn markets ‘Section 22 2571 regtonal operating headquarters shall Sete eliatannitnad te bere mahal apterous, Titan and pious bsmece perm od wort, ‘SER Se pcitamen fs mates ond compenant: omporate fea end posonne managements, lag once raearchane sent ts pment rnd [erent (20) athe pros ince fecved urn eh tae Year ‘Section 28 (B) Tax on Nonresident Foreign Corporation.= | (jim enrol - Breet a aera proud ea Cade, afore, Copan at ance tor Beste Pgs Sel Pe lg Sach tab yr ol sous when Fre aon tern ets ain, hare, Pretkin® ete emeurancs prema anulis emakiments ot Eri or dorsal ant pon or sera gen ros ‘ind cpt wins mci apt pans ube Ya ‘inde ibpararaph Se onded Tat efi aun 1 2002, ‘her of ores o huanae one Prt oa Yoru ont prsent (99ers nce om al noes 2 Tan Se poe 98 of rae ena, . tourand oneal porcnt (eof ro ental fom Sean are egos some om th Reference: Section 28 (B) (2), NIRC, we am "eran fe percent (259 oft erose income fa al wouress 1b vena ome El percent (71/2) of eam rental sie oF and el eect (12% of rom rena eae or «4 Sole one hal pees (28) of gross ncome ro ‘Src within tne Poppins, [Rofcnce: ection 28) (), MIRC, as amended Renta, arr an tere deri iy nr ean of 1 senly-ve percent 2509 of ta gross income from all sources ‘Ziad one ai otcent (7 12%) of ross rentals o fs. ‘eerste ta oe Reference: Section 28. IRC, as amended Sein 3) Pu om honed Fortin Corpora = = Snaraggrapi im conor, teaser, or dsirtor sal pay a tax of i cp 86) 9 rss ome om res an ) Noreen Ouro azar of Vero Charar by ‘item "ans aneoeterf ocaeeta Beaject SU pea ne ai pene 120 of arama ease Sern te anes ny she Martie ery Aaahoiy. “7 Bergen Roe caret Jos dete Oy Sie ota tar of sou ind one hal parce (Sah oasa + Pa Ce ere canceporaline Set sulfe: ty ncome tx Mase Seine Insane fo fourees hin the Foaippnes ©» Bons orparron av ues ose tx fond on et Nonresident foreign corporations are subget eincome tax <5 x pone in the ate of pny the coma deter $Ee Cree tet them by he corporation, 2 operysecumulate comings tx & Gaayeaes ‘Rifithct: section 2, Revenue Reguletons Wo, 2.2001 40. Pe statement: An accumulation of earnings o pote Gch “iad earns potts of ror yer) i unrenzonate Second statement: "Tie term ‘reasonable needs ofthe business" are [iudisg ctoseaty Unltpmied neces nso Ga tne tet matoment core ‘RutErnce: Section 3, Revenue Reguletions Mo. 2:2001 47 Roe purges of mplementing poi irony [alunce Shet date, heusine of aectumalacone ten fom [prone ty the Board of recta or equelent bot ce. iuings retard fr bang plants oF equipment SER sopra the Bred of Beton or ee eae nid nat men tin co | © Serge ard Batol boa . Ripurtncrahip organized by a group of CPAs forthe common, © Sete eauseetee of eaieea , 22 (8, MIRC, an mend cea pageant pomeranian Fd errs tn al fap een a connon poston ha othe re ed far gg on ade sien ‘rage tone come tae ‘Sco atm Peraons engaging in banest ax paren = ‘eho! penn csp a for st Sy Gay te iat matemert om errect 42 Gniy the mead tntment i corect ‘RurSene: Section 26, HTRC, ax amend “Sutscve share, actonly or constructive Tested the Wet 4 Gnly the second materi corect em oan a gr geet ‘partnership shall en have ben dtu O canatrtvey ‘Steno them m her naval capaci, wtother etal Sythe fe statement correct ‘On the acted extemene i corect er Se I a rao fr tcnabte jc ch i objet to tax ur Section 37) ofan Se et Logpariy"Unather actly distnbutest ar at." OT Seager one a af bee arn Sa gain a satu Ste Sa ya, ‘Ben parent {th come ments tte pa forthe vot yor eed P20 085 aed Me par a Pah {SSctnRyi ncaa ete rin ‘Reference: Section 2, Revenue Regulations Wo. 30-2003 Atma parte ye mie thing nen ener RefCrence: Section 4, Reve Repuations No. 2.2001 ‘ery ernest as sae ‘pevuncranip shail clude sncomes whic are subject to nal ta ‘anther ee or no 2 Gay the tt name te correct ‘Sesteredcovatucaety feet the prince tn he mie Sheet iin waning ort ox pcen Ooo Oni the cin atntement im correct 0, rt stoner Sten rected apres om ea, tad staf Soluien exe ny a pares toma besineen 4, ich of te fowing jon en Fe De ike Comment intr rein ln con got se suet corporate income Feterne Sn onsorctin’ sal inchs parierehfS 0 etter Tau Ce ne nce eotper, bu dese a sate oa aa te ra cocstnamcnntia gag 15. Te nace ofan individual the net ncome afer oof Si SE ‘Reference: Section 24 (0) (2, MIRC, a amended o0-Te snare ofa corporation i he et income ale a a a tnt panes Section 28) fay ie areca Soap rane suse er "Nah Song to ileren persone? ae ‘Rife: Ariele 44, Cl Code of the Philippines caper 2: ax on oeprons Partnerships Jot Ventre: 90. Wn ofthe olin hal unify a o-oenerahip? Bat tana = tony ‘Sitiarotin They deeded ook ee date te property, snd sm 1 general prodtosional partnership. { Estpelues pein ‘Reference: Section 210, Revenue Regulations No: 2

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