Practice question
Explain why an individual who runs a business can also receive passive income without every receipt becoming business operating income.
Legal references
- NIRC Sections 22(MM) and 24(B), as amended by RA 12214, Sections 3-4: https://lawphil.net/statutes/repacts/ra2025/ra_12214_2025.html
- NIRC Sections 32 and 34: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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