corporation tax report

8/9/2019 Corporation Tax Report

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OUTLINE

I. DEFINITION OF CORPORATION ;

1.1 DEFINITION UNDER TAXATION; (Sec. 22 NIRC (B), as Amended)1.2 DEFINITION UNDER CORPORATION CODE OF THE PHI. (Sec. 2 B!. B"#. $%

C&'!. & P*".).

II. SPECIA CORPORATION

A. DO+ESTIC CORPORATION; andB. FOREIN CORPORATION;

B.1 RESIDENT FOREIN CORPORATION ( Sec. 22 (H) NIRC, as amended);

B.2 NON RESIDENT FOREIN CORPORATION (Sec. 22 (I) NIRC, as amended).

III. EXE+PTION

I-. OINT -ENTURE


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I.Definition of Corporation


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>Created or organized in the Philippines or under its laws.>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Created or organized in the Philippines or under its laws.>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines>Sources within and without the Phil.Sources from within the Phil.Nonresident foreign corporationSources from within the Philippines

II.Special Corporation


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CIR

CASE


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Bas*s;

I. CONSTITUTION(Sec. 2% (/) A'0. -I 1% P*"C&ns.);

II. NIRC (Sec. /2 (B) NIRC, as Amended) 3 (Sec.

/ (B);

III. OCA O-ERN+ENT CODE( Sec. 2/4 (a),(5),(c), (d), (e), C)

III. Why Exempt?


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I. Sec.28 (! "#8$ Phil. Cons

(/) Ca'*0a5"e *ns0*060*&ns, c6'ces and!e's&na#es &' c&n7en0s a!!6'0enan0

0e'e0&, m&s86es, n&n9!'&:0 ceme0e'*es,and a"" "ands, 56*"d*n#s, and *m!'&7emen0s,ac06a"", d*'ec0", and e


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II. Sec. 2 (%! NI&C' asmended

(B) E


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Cont;

Proceeds of the Life Insurance


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Sec. $ (%! NI&C' asmended

)eneral &ule*

(B) A s0&c@ d*7*dend 'e!'esen0*n# 0e 0'anse' & s6'!"6s 0&ca!*0a" acc&6n0 sa"" n&0 5e s65ec0 0& 0ae7e', * a c&'!&'a0*&n cance"s &' 'edeems s0&c@ *ss6ed as ad*7*dend a0 s6c 0*me and *n s6c manne' as 0& ma@e 0ed*s0'*560*&n and cance""a0*&n &' 'edem!0*&n, *n >&"e &' *n !a'0,essen0*a"" e86*7a"en0 0& 0e d*s0'*560*&n & a 0a


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III. ,-C, )-+&N/+N0C-1+( Sec. 2 (a!' (3!'(c!' (d!'

(e!' ,)C! Ened 5 0e Re!65"*c & 0e P*"*!!*nes

&' an & *0s !&"*0*ca" s65d*7*s*&ns een 0e5ene:c*a" 6se 0e'e& as 5een #'an0ed, &' c&ns*de'a0*&n&' &0e'>*se, 0& a 0a


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C&n0;

(c)A"" mac*ne'*es and e86*!men0 0a0 a'e ac06a"", d*'ec0"and ea0e' d*s0'*c0s and #&7e'nmen09

&>ned &' =c&n0'&""ed c&'!&'a0*&ns en#a#ed *n 0e s6!!" andd*s0'*560*&n & >a0e' and&' #ene'a0*&n and 0'ansm*ss*&n &e"ec0'*c !&>e';

(d)A"" 'ea" !'&!e'0 &>ned 5 d6" 'e#*s0e'ed &!e'a0*7es as!'&7*ded &' 6nde' R.A. N&. $%/; and

(e)+ac*ne' and e86*!men0 6sed &' !&""60*&n c&n0'&" anden7*'&nmen0a" !'&0ec0*&n.

Ee0e' na06'a" &' 6'*d*ca", *nc"6d*n# a"" #&7e'nmen09&>ned &' =c&n0'&""ed c&'!&'a0*&ns a'e e'e5 >*0d'a>n 6!&n 0eeec0*7*0 & 0*s c&de.


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IV. JOINT VENTUE

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