Practice question
Under the general rule in NIRC Section 23(A), which income sources are covered for a Philippine citizen residing in the Philippines?
- Only income physically paid in cash locally
- Income from sources within and without the Philippines
- Only income from foreign employers
- Only income deposited in Philippine banks
- No income earned through personal services
Legal references
- NIRC Sections 4,22,23 and244: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/3896
- RA12066, CREATE MORE Act: https://lawphil.net/statutes/repacts/ra2024/ra_12066_2024.html
- RA12214, Capital Markets Efficiency Promotion Act: https://lawphil.net/statutes/repacts/ra2025/ra_12214_2025.html
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