TRUE OR FALSE
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1. The intention with regard to the length and nature of Stay of an alien determine whether he is a resident or
nonresident
2. Overseas Filipino Workers duly registered as such with the Philippine Overseas Employment Administration
(POEA) with valid Overseas Employment Certificate (OE) refer to the Filipino citizens employed in foreign
countries and whose salaries are paid by employers abroad and are not bome by ameitde or persons in the
Philippines
3. Passive incomes are subject to separate and final tax rates.
4. Tax on certain passive income is a capital gains taxi
5. All royalty income derived from sources within the Philippines are subject to final withholding tax,
6 Deposit Substitutes as defined in Section 22. Y of the NIRC of 1997 as amended, means deni alternative
form of obtaining funds from the public other than deposits, through the issuance endorsement or acceptance
of debt instruments for the borrowers own account for the purpose of re-lending, or purchasing of receivables
and other obligations, or mancing their own needs or the needs of their det at dealer
7. Any income of nonresident individual taxpayers from transactions with depository banks under the expanded
foreign currency deposit system shall be exempt from income tax.
8. The determination of 6% capital gains tax on sale of real property is based on net camtal gains realized by the
seller of real property
9. Proceeds of sale of real property classified as capital asset may be exempt from the 6% capital gains tax F
10. Tax on CGT on sale of real properties shall be paid within a days from sale or disposition ​