15% Tax on Dividends of Domestic Corporations

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PRESIDENTIAL DECREE NO. 299-A: 15% Tax on Dividends of Domestic Corporations

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Title Source: Supreme Court: 15% Tax on Dividends of Domestic Corporations

Law: Presidential Decree No. 299-a

Decision Date: Sep 21, 1973

Presidential Decree No. 299-A imposes a 15% tax on dividends received by domestic or resident foreign corporations in order to support economic development programs in the Philippines, with the tax collected to be paid to the Commissioner of Internal Revenue.

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