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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 foreign corporation has PHP6 million Philippine-source gross income and PHP10 million worldwide gross income for the relevant statutory period. It pays a PHP100,000 dividend. Assuming the Section42 period and other facts are established, how much is Philippine-source under the ratio rule?

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PHP6 million PHP100,000 solely because some income is Philippine-source PHP60,000 PHP40,000 Zero solely because the corporation is foreign

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