Practice question
For a qualifying individual professional, is the statutory 8% treatment necessarily compulsory merely because the individual practices a profession?
- Yes, for all professionals without exception
- Yes, even above all qualifying limits
- Yes, even for every corporation
- Yes, even without regard to a valid election
- No; the Code provides an option subject to its requirements
Legal references
- NIRC Section 24(A), as amended by RA 10963, Section 5: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
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