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Understanding Income Taxation in the Philippines by Katrina Maglaqui is a document available to read on EtoBox.
What is Understanding Income Taxation in the Philippines about?
This document discusses the requisites for income to be taxable and the persons subject to income taxation. It provides definitions for: [1] resident citizen, non-resident citizen, resident alien, and non-resident alien; and [2] domestic and foreign corporations. Income must provide a gain or profit, be realized through an onerous transaction, and not be exempt by law to be taxable. The tax rates and bases depend on whether the person or corporation is resident or non-resident.
- Author
- Katrina Maglaqui
- Language
- EN