Dear all, In relation to the new ITR format, may tanong po ako. What applicable ITR forms should be used for the following taxpayers: 1. Philippine Representative Office, having no taxable income - It has been a practice that this entity does not render sale of goods or services but only acts as liaison or communication center of the foreign head office. Although, I have seen some financial statements of Rep Ofc having taxable income and pays the tax due therefrom. Is a Phil. Rep Ofc considered an exempt entity and therefore use 1702-EX? It seems wala ito sa Sec. 30 of NIRC Exempt from Tax on Corporations. But I am thinking if there special laws granting exemption from tax on this entity. 2. Non-stock, non-profit condominium corporation - Sec 30 (G) of NIRC, states Civic league or organization not organized for profit but operated exclusively for the promotion of social welfare. It seems a NSNP Condo Corp qualifies here. However, the BIR has subjected condo dues to income tax. Should NSNP Condo Corp still use 1702-EX? Thank you very much.
Posted on: Wed, 05 Feb 2014 17:38:05 +0000
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