THIS SUBJECT IS INCOME TAXATION

1.The threshold on partially deductible contributions of corporate taxpayers is 10% of the net income before the contribution

2.The depreciation of the property revaluation gain is deductible.

3.Transfer pricing between associated enterprises must be made at arm's length

4.Resident Filipino employed by foreign embassies, missions, or international organizations are generally not taxable.

5.The monetary value of benefit from loans at less than market rate shall be the difference between 12% and the actual rate charged.

6. The husband and wife are treated as separate taxable units.  Each spouse shall compute his or her taxable income, but both of them shall file a single return to include the income of both spouses.