Practice question
Under NIRC Section 22(C), which corporation is domestic?
- Every corporation with a Philippine customer
- A corporation created or organized in the Philippines or under its laws
- Every corporation whose shares are bought by Filipinos
- Every corporation with a Philippine bank account
- Only a corporation with no foreign shareholders
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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