17. What is the rule on the taxability of income that a government educational institution derives from its school operations? Such income is a. exempt from income taxation in the same manner as government-owned and controlled operations b. exempt from income taxation if it is actually, directly and exclusively used for educational purposes. c. subject to the ordinary income tax rates with respect to incomes derived from educational activities d. subject to 1% tax on its net taxable income as if it is a proprietary educational institution

17. What is the rule on the taxability of income that a government educational institution derives from its school operations? Such income is a. exempt from income taxation in the same manner as government-owned and controlled operations b. exempt from income taxation if it is actually, directly and exclusively used for educational purposes. c. subject to the ordinary income tax rates with respect to incomes derived from educational activities d. subject to 1% tax on its net taxable income as if it is a proprietary educational institution

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter2: Gross Income And Exclusions

Section: Chapter Questions

Problem 25MCQ

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17. What is the rule on the taxability of income that a government educational institution derives from its school operations? Such income is (This is for Philippines Tax Law) a. exempt from income taxation in the same manner as government-owned and controlled operations b. exempt from income taxation if it is actually, directly and exclusively used for educational purposes. c. subject to the ordinary income tax rates with respect to incomes derived from educational activities d. subject to 1% tax on its net taxable income as if it is a proprietary educational institution
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