INCOME TAXATION - PHILIPPINES The City of Manila, claiming that it can impose taxes under the Local Government Code, imposed a tax on banks (in addition to the percentage tax on banks imposed in the National Internal Revenue Code) The banks within the City of Manila objected for the various reasons given below. Which would justify the objection of the banks?

Principles Of Marketing
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Chapter1: Marketing: Creating Customer Value And Engagement
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INCOME TAXATION - PHILIPPINES

The City of Manila, claiming that it can impose taxes under the Local Government Code,
imposed a tax on banks (in addition to the percentage tax on banks imposed in the National
Internal Revenue Code) The banks within the City of Manila objected for the various reasons
given below. Which would justify the objection of the banks?
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