MANAGEMENT

Detailed explanation-1: -NRANETBs are taxed at a flat rate of 25 percent of gross income unless a lower rate is applicable under a double tax treaty or special law.

Detailed explanation-2: -Interest on bank savings, time deposits, deposit substitutes, and money market placements received by domestic or resident foreign corporations from a domestic corporation are subject to a final tax of 20%, while interest income derived from FCDU deposits is subject to a final tax of 15%.

Detailed explanation-3: -Any interest earned from a peso bank deposit is subject to a 20% final withholding tax as required by the Bureau of Internal Revenue (BIR).

Detailed explanation-4: -Generally, interest income from non-bank sources is subject to regular income tax. FALSE 2. Foreign income is subjected to final tax if the taxpayer is taxable on global income.