Which statement is FALSE? * Interest income earned by a depositary bank under the Expanded Foreign Currency Deposit System from residents is subject to 10% final income tax. A PEZA-registered enterprise is non-taxable on its related activities. The income of an Offshore Banking Unit from forex transactions in the country is subject to regular income tax. None of the above All of the above
Which statement is FALSE? * Interest income earned by a depositary bank under the Expanded Foreign Currency Deposit System from residents is subject to 10% final income tax. A PEZA-registered enterprise is non-taxable on its related activities. The income of an Offshore Banking Unit from forex transactions in the country is subject to regular income tax. None of the above All of the above
Chapter25: Taxation Of International Transactions
Section: Chapter Questions
Problem 6DQ
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Question
Which statement is FALSE? *
Interest income earned by a depositary bank under the Expanded Foreign Currency Deposit System from residents is subject to 10% final income tax.
A PEZA-registered enterprise is non-taxable on its related activities.
The income of an Offshore Banking Unit from forex transactions in the country is subject to regular income tax.
None of the above
All of the above
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