(i) Interest on foreign loans (ii) Inter-corporate dividends (iii) Capital gains from sale of shares of stock not traded in the stock exchange…

The question

(i) Interest on foreign loans (ii) Inter-corporate dividends (iii) Capital gains from sale of shares of stock not traded in the stock exchange Zygomite Minerals, Inc., a corporation registered and holding office in Australia, not operating in the Philippines, may be subject to Philippine income taxation on: (2011 Bar Question)

1. A.gains it derived from sale in Australia of an ore crusher it bought from the Philippines with the proceeds converted to pesos. 50 | P a g e 2010-2015 Taxation Law Bar Examinations
2. B.gains it derived from sale in Australia of shares of stock of Philex Mining Corporation, a Philippine corporation.
3. C.dividends earned from investment in a foreign corporation that derived 40% of its gross income from Philippine sources.
4. D.interests derived from its dollar deposits in a Philippine bank under the Expanded Foreign Currency Deposit System.

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