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Flashcards — Multiple Choice

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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A resident citizen receives two Philippine-source royalty streams in 2026: passive royalties from a book and passive royalties from licensing a patent. Both fall under Section 24(B)(5); no special exemption applies. He applies the book rate to both because both are intellectual property. Which treatment follows the amended text?

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Both are necessarily exempt Both must be included as active shop sales regardless of the stipulated facts The book royalties are subject to 10%, while the stipulated passive patent royalties fall under the general 20% royalty rate Both must be taxed at 10% because all intellectual property is literary The taxpayer may elect either rate for either stream

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