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Philippine Tax Update - Chan Robles Virtual Law Library


   
THE
NATIONAL INTERNAL REVENUE CODE
OF THE PHILIPPINES
[Tax Reform Act of 1997]
Republic Act No. 8424
AN ACT AMENDING THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES


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TITLE II
TAX ON INCOME
CHAPTER II
GENERAL PRINCIPLES
    SEC. 23. General Principles of Income Taxation in the Philippines.- Except when otherwise provided in this Code:
    (A) A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines;
    (B) A nonresident citizen is taxable only on income derived from sources within the Philippines;
    (C) An individual citizen of the Philippines who is working and deriving income from abroad as an overseas contract worker is taxable only on income derived from sources within the Philippines: Provided, That a seaman who is a citizen of the Philippines and who receives compensation for services rendered abroad as a member of the complement of a vessel engaged exclusively in international trade shall be treated as an overseas contract worker;
    (D) An alien individual, whether a resident or not of the Philippines, is taxable only on income derived from sources within the Philippines;
    (E) A domestic corporation is taxable on all income derived from sources within and without the Philippines; and
      (F) A foreign corporation, whether engaged or not in trade or business in the Philippines, is taxable only on income derived from sources within the Philippines.


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