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Which statement is FALSE? *   Interest income earned by a depositary bank under the Expanded Foreign Currency Deposit System from residents is subject to 10% final income tax. A PEZA-registered enterprise is non-taxable on its related activities. The income of an Offshore Banking Unit from forex transactions in the country is subject to regular income tax. None of the above All of the above

Which statement is FALSE? *   Interest income earned by a depositary bank under the Expanded Foreign Currency Deposit System from residents is subject to 10% final income tax. A PEZA-registered enterprise is non-taxable on its related activities. The income of an Offshore Banking Unit from forex transactions in the country is subject to regular income tax. None of the above All of the above

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which statement is FALSE? *

 

Interest income earned by a depositary bank under the Expanded Foreign Currency Deposit System from residents is subject to 10% final income tax.

A PEZA-registered enterprise is non-taxable on its related activities.

The income of an Offshore Banking Unit from forex transactions in the country is subject to regular income tax.

None of the above

All of the above

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