FIT: Dividends

Question 1

Business Partnerships and Joint Ventures are subject to FIT on their____?

Answer 1

Share in profit in BP and JV Net Income (10% for Individual; )

Question 2

10% FT applies only to DIVIDENDS AND SHARE OF NET INCOME of the ff.

Answer 2

1. REIT
2. BP
3. Taxable associations
4. T-JV, JA or Consortium
5. T Co-ownership

Question 3

EXEMPT dividends

Answer 3

1. Inter-corporate dividends

2. Dividends from cooperative

Question 4

FT on Dividend Income applies only to:

Answer 4

Cash and Property Dividends

Question 5

FIT for DI from Domestic Sources

Answer 5

RC, NRC, RA = 10%
NRA-ETB = 20%
NRA-NETB = 25%
Corpo= Exempt

Question 6

FIT on DI from Foreign Sources

Answer 6

RC, NRC, RA = RIT
NRA-ETB = RIT
NRA-NETB = 25%
Corpo= RIT