BIR Ruling No. 126-83
BIR Ruling No. 126-83 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Jul 8, 1983
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July 8 1983 BIR RULING NO. 126-83 Gentlemen : This refers to your letter dated June 7, 1983 requesting confirmation that Astaire and Co. Far East, a company domiciled in HongKong is entitled to the reduced 15% withholding tax on dividends from domestic corporations. In reply, please be informed that it having been established that HongKong does not impose any tax on dividend income received by corporations domiciled therein from foreign sources, the dividends from sources within the Philippines remitted to Astaire and Co. Far East are subject only to 15% withholding tax, pursuant to Sec. 24 (b)(1)(iii) of the Tax Code. cdtech Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner Bureau of Internal Revenue
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