Nicanor, a Filipino residing in the United States, earned P 20,000 dividend income from his investment...

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Nicanor, a Filipino residing in the United States, earned P 20,000 dividend income from his investment in ABC Corporation, a corporation established under the laws of the Philippines. The Corporation earned gross income (for the last three years) in the United States amounting to Php 500M and another Php 20OM within the Philippines. S1: Dividend income earned by Nicanor is an income derived from sources without the Philippines. S2: The Dividend income earned by Nicanor is taxable. O a. Only S1 is true O b. Only S2 is true O c. Both are true d. Both are false Nicanor, a Filipino residing in the United States, earned P 20,000 dividend income from his investment in ABC Corporation, a corporation established under the laws of the Philippines. The Corporation earned gross income (for the last three years) in the United States amounting to Php 500M and another Php 20OM within the Philippines. S1: Dividend income earned by Nicanor is an income derived from sources without the Philippines. S2: The Dividend income earned by Nicanor is taxable. O a. Only S1 is true O b. Only S2 is true O c. Both are true d. Both are false

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b Only S2 is true The Dividend income earned by Nicanor is taxab... View the full answer