Practice question
Which equity-based item does NIRC32(A)(1), as amended by RA12214, expressly include in compensation?
- Stock options.
- Only repayments of genuine loan principal.
- Only transfers between the same owner's bank accounts.
- Only property already owned with no income event.
- Only money held as a refundable security deposit without a gain.
Legal references
- NIRC, Sections 5-7,22-23 and32, as enacted in RA8424 and subject to the cited later amendments: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA12214, May29,2025, CMEPA, including amended NIRC Sections22,25 and32: https://lawphil.net/statutes/repacts/ra2025/ra_12214_2025.html
- CIR v. Shinko Electric Industries, G.R.226287, July6,2021, main decision, income concept and requisites: https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/1/67666
Answer this question in flashcards to review your response and continue practicing.