WorksheetsTAX TREATY BENEFITS & OTHER RELEVANT TAX UPDATES
Total questions: 10
Worksheet time: 8mins
What is the best proof of residency for the availment of tax treaty benefits?
Tax Residency Certificate (TRC)
BIR Ruling
Tax Treaty
Secretary's Certificate
What BIR office has original jurisdiction over matters involving the application and interpretation of tax treaties?
International Tax Affairs Division (ITAD)
Law & Legislative Division
Litigation Division
RDO
In general, if the treaty rate was applied on the income of the nonresident, who should file a request for confirmation (RFC) that the withholding tax rates applied on that income was proper?
income payor, domestic or foreign
income payee or the non-resident
any person
none of the above
How much is the penalty for failure to file a Certificate of Residence for Tax Treaty Relief (CORTT) Form for dividends, interests and royalties paid?
P1,000
P10,000
P50,000
P20,000
For dividends, what Audited Financial Statements (AFS) will be attached to the RFC or TTRA?
CTC of the duly filed AFS as of the taxable year immediately preceding the date of declaration
Unaudited FS
Unaudited Interim FS
latest AFS
What document will be issued for approved TTRAs and RFCs?
BIR Ruling
Certificate of Entitlement to Treaty Benefit (COE)
Certificate of Availment
ITAD Ruling
All are the revenue issuances issued providing the guidance on the filing of request for confirmation, tax treaty relief applications and tax sparing applications, except:
RMO 14-2021
RMO 77-2021
RMC 20-2022
RMC 16-2022
What are the two types of Certificate of Entitlement to Treaty Benefits (COE) to be issued by the BIR, through the ITAD?
COE for recurring transactions intended for dividends, branch profit remittances, interests, royalties...
COE which is limits the applicability of the ruling to a particular transaction or period and is usually issued for business profits, capital gains...
none of the above
Statement 1 & 2 are correct
With regard to the annual updating that is required for long-term contract of services, the taxpayer shall submit the following except one.
TRC of the nonresident for the relevant year
Sworn Certification
Certificate of Completion of the project duly signed by the income recipient and duly accepted by the domestic income payor, if applicable
CTC of the long-term contract
What BIR Form shall be used by the withholding agent or income payor for Dividends?
BIR Form No. 0901-D
BIR Form No. 0901-PR
BIR Form No. 0901-I
BIR Form No. 0901-R
