BIR Ruling No. 100-83
BIR Ruling No. 100-83 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jun 9, 1983
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June 9, 1983 BIR RULING NO. 100-83 Gentlemen : This refers to your letter dated April 8, 1983 requesting confirmation that Hoare Govett Far East Limited, a HongKong based corporation is entitled to the reduced rate of 15% withholding tax in 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, Hoare Govett Far East Limited, are subject only to the 15% withholding tax prescribed by Sec. 24(b)(1)(iii) of the Tax Code, as amended. Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner Bureau of Internal Revenue
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