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    Tax-Deductions-Corporations (Final)

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    Reynaldo Fajardo Yu
    This document outlines tax information for different types of corporations operating in the Philippines. It specifies that for resident foreign corporations categorized as regional operating headquarters, the tax base is taxable income and they can deduct 40% of gross income. For regional or area headquarters of resident foreign corporations, the tax base is gross income. Non-resident foreign corporations have a tax base of gross income and are not eligible for optional standard deductions.

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    Tax-Deductions-Corporations (Final)

    Uploaded by

    Reynaldo Fajardo Yu
    15 views1 page
    This document outlines tax information for different types of corporations operating in the Philippines. It specifies that for resident foreign corporations categorized as regional operating headquarters, the tax base is taxable income and they can deduct 40% of gross income. For regional or area headquarters of resident foreign corporations, the tax base is gross income. Non-resident foreign corporations have a tax base of gross income and are not eligible for optional standard deductions.

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    Tax-Deductions-Corporations (Final).docx

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    This document outlines tax information for different types of corporations operating in the Philippines. It specifies that for resident foreign corporations categorized as regional operating headquarters, the tax base is taxable income and they can deduct 40% of gross income. For regional or area headquarters of resident foreign corporations, the tax base is gross income. Non-resident foreign corporations have a tax base of gross income and are not eligible for optional standard deductions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    15 views1 page

    Tax-Deductions-Corporations (Final)

    Uploaded by

    Reynaldo Fajardo Yu
    This document outlines tax information for different types of corporations operating in the Philippines. It specifies that for resident foreign corporations categorized as regional operating headquarters, the tax base is taxable income and they can deduct 40% of gross income. For regional or area headquarters of resident foreign corporations, the tax base is gross income. Non-resident foreign corporations have a tax base of gross income and are not eligible for optional standard deductions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    CORPORATIONS

    TAXABLE DOMESTIC RESIDENT FOREIGN NON-RESIDENT FOREIGN


    PARTNERSHIPS CORPORATIONS CORPORATIONS CORPORATIONS
    y- Regional Operating HQ,
    ORDINARY tax base is Taxable
    DEDUCTIONS APPLICABLE APPLICABLE Income. -Not Applicable, tax base is
    (SEC. 34 A- x- Regional or Area HQ, tax Gross Income.
    J)* base is Gross Income.
    OPTIONAL y- Regional Operating HQ,
    STANDARD -40% of gross -40% of gross 40% of Gross Income -Not applicable
    DEDUCTIONS income. income. x-Regional or Area HQ
    (OSD)**
    DEDUCTIONS

    *Section 34 A-J: Ordinary expenses, Interest, Taxes, Losses, Bad debts, Depreciation, Depletion of Oil and Gas
    Wells and Mines, Charitable and Other Contributions, Research and Development, Pension Trusts

    **Gross income shall mean gross sales less sales returns, discounts and allowances and cost of goods sold (for
    trading/merchandising) or gross receipts less sales returns, allowances, discounts and cost of services (for sellers
    of services).

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