Question: Hello please help me to answer this true or false below. please explain briefly your answer. thank you true or false 1. Generally, interest income
Hello please help me to answer this true or false below. please explain briefly your answer. thank you
true or false
1. Generally, interest income from non-bank sources is subject to regular income tax. * TRUE FALSE 2. Foreign income is subjected to final tax if the taxpayer is taxable on global income. * TRUE FALSE 3. Items of passive income from abroad are subject to final tax * TRUE FALSE 4. Interest income on government securities are subject to final tax. * TRUE FALSE 5. All items of passive income are generally subject to final-tax. * TRUE FALSE 6. Final tax is collected at source; hence, there is no need to file an income tax return. T * TRUE FALSE 7. Individuals and corporations are tax-exempt on interest income on long-term deposits. * TRUE FALSE 8. Dividends from resident corporations are subject to regular tax. * TRUE FALSE 9. All non-residents are exempt from final tax on foreign currency deposits. * TRUE FALSE 10. Royalties, active or passive, are subject to regular income tax * TRUE FALSE 11. A government employee may claim the tax informer's reward. * TRUE FALSE 12. Winnings which are not more than PIO,OOO in amount are subject to the regular income tax * TRUE FALSE 13. PSCO or lotto winnings are exempt from all types of income tax * TRUE FALSE 14. The sale of delisted stocks is subject to stock transaction tax and not to capital * TRUE FALSE 15. If the assessor's fair value is lower than the selling price, then the fair value property is the zonal value. * TRUE FALSE 16. A vacant and unused lot is an ordinary asset to a real estate dealer. * TRUE FALSE 17. Real and other properties acquired are ordinary assets to banks even if they are not engaged in the realty business. * TRUE FALSE 18. Capital assets will not become ordinary assets when used in business. * TRUE FALSE 19. An ordinary asset becomes automatically become a capital asset when it is withdrawn from active use. * TRUE FALSE 20. An ordinary asset continues to be an ordinary asset even if idled for more than two years if the taxpayer is engaged in realty business. * TRUE FALSE 21. Capital gains from assets other than domestic stocks and real properties are subject to regular income tax. * TRUE FALSE 22. The 6% capital gins tax cannot apply unless there is a gain on the sale of real property. * TRUE FALSE 23. The sale of real properties located abroad is subject to he 6% capital gains tax * TRUE FALSE
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