In 2017, Spouses April and May Reyes opened peso and dollar deposits at the Manila branch of Hong Kong Bank. April is an overseas contract worker while May lives and works in Manila. During the year, the bank paid interest income of Php 10,000.00 on the peso deposit and US $1,000 on the dollar deposit. The bank withheld final income tax equivalent to 20% of the entire income and remitted the same to the BR. Are the interest incomes on the bank deposits of Spouses April and May Reyes subject to income tax? Why?