Taxation, 2012 Bar — Question 8

MULTIPLE CHOICE

Interest income of a domestic commercial bank derived from a peso loan to a domestic corporation in 2010 is: a) Subject to the 30% income tax based on its net taxable income; b) Subject to the 20% final withholding tax; c) Subject to the 7.5% final withholding tax; d) Subject to 10% final withholding tax.

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