TRUST OFFICERS

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                    [ArticleID] => 346764
                    [Title] => TOAP clarifies ruling on UITF
                    [Summary] => The Trust Officers’ Association of the Philippines (TOAP) said that gains arising from redemption of unit investment trust fund (UITF) participation are not subject to a final withholding tax. 


In a position paper, the TOAP said the Bureau of Internal Revenue (BIR) Ruling No. 003-05 stated that the final tax withheld on interest income payments to the trust fund is distinct and separate from the tax on the income derived by the individual investor, it qualified that this is only applicable to irrevocable trusts. 


                    [DatePublished] => 2006-07-11 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
                    [URL] => 
                )

        )

)

abtest

TOAP clarifies ruling on UITF

July 11, 2006 - 12:00am

The Trust Officers’ Association of the Philippines (TOAP) said that gains arising from redemption of unit investment trust fund (UITF) participation are not subject to a final withholding tax. In a position...

Banking