BIR Ruling
BIR Ruling • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Apr 5, 1976
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April 5, 1976 Rate of Withholding Tax on Cash Dividends In reply to your letters dated September 24 and November 29, 1976, I have the honor to in inform you that it having been established that Hongkong does not impose any tax on dividends received by corporations domiciled therein from foreign sources, the dividends remitted by you to QRS & Co., Ltd. Hongkong and COMESCO Ltd., non-resident foreign corporations domiciled in Hongkong, are subject only to the 15% withholding tax, prescribed by Section 24(b) of the Tax Code, as amended by Presidential Decree No. 369. (See BIR Ruling dated September 30, 1975. cdtech
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