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Questions and Answers
Who is considered a nonresident citizen for the taxable year in which he arrives in the Philippines?
Who is considered a nonresident citizen for the taxable year in which he arrives in the Philippines?
- A citizen who has been previously considered a resident alien
- A citizen who leaves the Philippines to reside permanently abroad (correct)
- A citizen who works abroad but resides in the Philippines
- A citizen of the Philippines who works abroad and derives income from abroad
What is the definition of 'resident alien' according to the text?
What is the definition of 'resident alien' according to the text?
- An individual who is a permanent resident in the Philippines
- An individual whose residence is within the Philippines and who is a citizen of another country (correct)
- An individual who is a citizen of the Philippines and resides outside of the Philippines
- An individual who is not a citizen of the Philippines and who resides outside of the Philippines
What category does a foreign corporation engaged in trade or business within the Philippines fall under?
What category does a foreign corporation engaged in trade or business within the Philippines fall under?
- Nonresident alien corporation
- Nonresident foreign corporation
- Resident foreign corporation (correct)
- Resident alien corporation
Who is considered a 'fiduciary' based on the provided text?
Who is considered a 'fiduciary' based on the provided text?
What does 'shares of stock' include according to the text?
What does 'shares of stock' include according to the text?
Who falls under the category of a 'shareholder' based on the text?
Who falls under the category of a 'shareholder' based on the text?
What is the definition of 'person' as stated in the text?
What is the definition of 'person' as stated in the text?
Which of the following is NOT included in the term 'corporation' as defined in the text?
Which of the following is NOT included in the term 'corporation' as defined in the text?
What does 'domestic' mean when applied to a corporation?
What does 'domestic' mean when applied to a corporation?
In the context of corporations, what does 'foreign' refer to?
In the context of corporations, what does 'foreign' refer to?
What is the definition of a 'nonresident citizen' based on the text?
What is the definition of a 'nonresident citizen' based on the text?
Which of the following is specifically excluded from the term 'corporation' in the text?
Which of the following is specifically excluded from the term 'corporation' in the text?
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