BIR Ruling No. 094-83
BIR Ruling No. 094-83 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 1, 1983
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June 1, 1983 BIR RULING NO. 094-83 Gentlemen : This refers to your letter dated April 26, 1983 requesting confirmation that W.I. Carr Sons and Company, a HongKong based corporation, is entitled to the reduced 15% withholding tax on all cash dividends derived from Philippine Corporations instead of the regular 35% withholding tax. In reply, please be informed that it having been established that HongKong does not impose any tax on dividends from foreign sources, received by corporations domiciled therein, the dividends to be remitted to your client, W.I. Carr Sons and Company, are subject to the 15% withholding tax prescribed by Sec. 24(b)(i)(iii) of the Tax Code, as amended. aisadc Very truly yours, (SGD.) ROMULO M. VILLA Acting Commissioner Bureau of Internal Revenue
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