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42, NIRC)
SOURCES OF INCOME
Rules:
1. This section is not material for Resident Citizens (RC) and Domestic Corporations (DC) because they are taxed from all sources
2. This is relevant to other taxpayers because they are only liable for income derived from sources within only.
SOURCES OF INCOME
RULE
CONSEQUENCE
SERVICES
SOURCES OF INCOME
any copyright, patent, design or model,
plan, secret formula or process, goodwill,
trademark, trade brand or other like
property or right;
The any industrial, commercial or scientific
equipment;
RENTALS
AND
ROYALTIES
From property
located in the
Phils or from
any interest in
such Property.
RULE
CONSEQUENCE
scientific,
technical,
industrial
or
commercial knowledge or information;
furnished as a means of enabling the
application or enjoyment of, any such
property or right as is mentioned above
of any brand, machinery or other apparatus
purchased from such nonresident person;
rendered in connection with technical
management or administration of any
scientific,
industrial
or
commercial
undertaking, venture, project or scheme
(i) Motion picture films;
(ii) Films or video tapes for use in
connection with television; and
(iii) Tapes for use in connection with radio
broadcasting.