TAXATION

In general, fixed or variable allowances received by a public officer or a private entity are subject to income tax and consequently, on compensation income.

These are paid out of currency and are taxable to the recipient in the year they are paid: Cash Dividends, Property dividends, Liquidating dividends, Stock dividends

Premiums on life insurance paid by the employer are ____ to the employee

It refers to a grant of tax immunity to persons or corporations of a particular class

PCSO and Lotto Winnings received by NRA - NETB are subject to:

It includes overtime pay, commission, profit sharing, etc.

Interest Income on long term bank deposits is subject to:

It involves a sale or exchange of property between the corporation and the shareholder

Inter - corporate dividends received from a resident foreign corporation (RFC) by RFCs are subject to: Basic Tax, Final Tax, Situs of dividend, Exemption from tax

It means the excess of allowable deduction over the business gross income in a taxable year: