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AGS won the recently raffled Ultra Lotto 6/58 in the amount of P1B. He plans to deposited P750,000,000 of his lotto winnings with the Bank
AGS won the recently raffled Ultra Lotto 6/58 in the amount of P1B. He plans to deposited P750,000,000 of his lotto winnings with the Bank of the Philippine Islands and P250,000,000 in foreign currency with HSBC under an expanded foreign currency deposit system, net of applicable final taxes, if any. If AGS is a non-resident alien not engaged in trade or business in the Philippines, the interest income to be earned from deposits in BPI shall be subject to: O Exempt from Income Taxes 20% Final Taxes 15% Final Taxes 25% Taxes
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