1. Income Subject to Tax
The income of corporations, no matter how created or organized, including partnerships, is
subject to income tax. Domestic corporations receiving income from sources within and outside
the Philippines, foreign corporations receiving income from sources within the Philippines and
taxable partnerships are required to file income tax returns. The return shall be filed, with the
tax payment, on or before the 15th day of the fourth month following the close of the taxpayer's 7
taxable year. The return shall be filed with any Authorized Agent Bank (AAB) located within the
territorial jurisdiction of the Revenue District Office where the taxpayer is required to
register/which has jurisdiction over the location of the principal office of the “Corporation” filing
the return.