In order for passive income to be subject to final tax under section 24 (B) of the NIRC, the income must be derived from sources within or without the Philippines. S2: An income that is exempted from income tax under the law, is not subject to withholding tax. S3: Dividend income earned by a resident citizen is always subject to 10% final tax. Which is True? Group of answer choices a. Only S1 is True b. Only S2 is True c. Only S3 is True c. Only S3 is True
In order for passive income to be subject to final tax under section 24 (B) of the NIRC, the income must be derived from sources within or without the Philippines. S2: An income that is exempted from income tax under the law, is not subject to withholding tax. S3: Dividend income earned by a resident citizen is always subject to 10% final tax. Which is True? Group of answer choices a. Only S1 is True b. Only S2 is True c. Only S3 is True c. Only S3 is True
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
25.
S1: In order for passive income to be subject to final tax under section 24 (B) of the NIRC, the income must be derived from sources within or without the Philippines.
S2: An income that is exempted from income tax under the law, is not subject to withholding tax.
S3: Dividend income earned by a resident citizen is always subject to 10% final tax.
Which is True?
Group of answer choices
a. Only S1 is True
b. Only S2 is True
c. Only S3 is True
c. Only S3 is True
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