Practice question
A corporation formed under foreign law regularly engages in trade or business in the Philippines through its branch. For the ordinary income-tax classification in Sections 22 and 28, which description fits?
- Domestic corporation because it has a branch
- Resident citizen
- Nonresident citizen
- Resident foreign corporation
- General professional partnership
Legal references
- NIRC Sections 4,22,23 and244: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/3896
- RA11976, Ease of Paying Taxes Act: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/2/96948
- 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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