Professional Documents
Culture Documents
Income Taxation
For me, taxpayer are those people who pay correctly the tax percentage for the certain amount that
they are earning as a worker . Each person must be liable to pay their own taxes .
Resident Citizen-Those who are citizens of the Philippines at the time of the adoption of this
Constitution;Those whose fathers or mothers are citizens of the Philippines;Those born before
January 17, 1973, of Filipino mothers, who elect Philippine citizenship upon reaching the age of
majority; and Those who are naturalized in accordance with the law.
Non- Resident-A citizen of the Philippines whose physical presence abroad is with a definite
intention to reside therein – to the satisfaction of the Commissioner of Internal Revenue;
Resident Alien-One who comes to the Philippines for a definite purpose which in its nature
would require an extended stay and to that end makes his home temporarily in the Philippines
NonResident Alien-An alien who comes to the Philippines for a definite purpose which in its
nature may be promptly accomplished;
A domestic corporation refers to a company that is incorporated in and conducts business affairs
in its own country. Domestic corporations are often compared with and contrasted to foreign
corporations, which is particularly significant when considering corporate taxation rates.
A domestic corporation is often compared to a foreign corporation, which conducts business in a
country other than the one where it originated or was incorporated.
5. What is a partnership?
A partnership is a form of business where two or more people share ownership, as well as the
responsibility for managing the company and the income or losses the business generates. That income
is paid to partners, who then claim it on their personal tax returns – the business is not taxed separately,
as corporations are, on its profits or losses.
General partnership
Limited partnership
Joint venture