The company borrowed loan from the Company’s director for the expenses of company setting-up and build property which the Company paid the interest to the director and withhold the tax at 15%. Please advise that the Company’s director have the right to choose not to bring this receiving interest include to the personal income tax calculation with other income for ending of the year?
Panwa: For case of the Company pay interest of loan to the lender, such lender have the right to choose the tax payment which do not bring such interest include with other income for personal income tax payment on the schedule of such tax filing according to Revenue Code section no. 48 (1)(2) and section no. 48(3)(a).
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