Practice question
Under Section 42, gains from selling real property located in the Philippines are sourced where?
- Where the buyer keeps a bank account
- Within the Philippines
- Only where the deed is signed
- Only where the seller was born
- Outside the Philippines if negotiated abroad
Legal references
- NIRC, Section 42(A), (C) and (E); https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA 12214, Section 12 (amending Section 42(A)(1)); https://lawphil.net/statutes/repacts/ra2025/ra_12214_2025.html
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