MANAGEMENT

Detailed explanation-1: -66-67; “Capitation or poll taxes are taxes of a fixed amount upon all persons, or upon all the persons of a certain class, resident within a specified territory, without regard to their property or the occupations in which they may be engaged.

Detailed explanation-2: -Unless otherwise provided by law or regulations, interest income derived from any other debt instruments not within the coverage of ‘deposit substitutes; and these Regulations shall be subject to a Creditable Withholding Tax (CWT) at the rate of twenty percent (20%).

Detailed explanation-3: -The entire profited amount will qualify for taxable income and will be charged a flat 20% tax under long-term capital gain. There is no minimum exemption limit on the entire amount, which makes it susceptible to attract large taxes.

Detailed explanation-4: -only the interest income from long-term deposits or investments certificates are covered by income tax exemption; 8. income tax exemption does not cover any other income such as gains from trading, foreign exchange gain; 9.