Practice question
Under Section42(A)(2)(a), dividends from a domestic corporation are sourced where?
- Within the Philippines
- Always where the shareholder was born
- Always in the currency-issuing country
- Always outside the Philippines
- Only where the dividend notice was printed
Legal references
- NIRC RA8424, relevant provisions as amended: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html Section42(A)(2),(4),(C)(4),(E).
- RA12214 CMEPA: https://lawphil.net/statutes/repacts/ra2025/ra_12214_2025.html Section12, current Section42(A)(1) amendment checked.
- Aces Philippines v. CIR, GR226680, August30 2022 ENBANC MAIN: https://lawphil.net/judjuris/juri2022/aug2022/gr_226680_2022.html MAIN income-producing activity and Philippine gateway receipt.
Answer this question in flashcards to review your response and continue practicing.