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b. Final tax on passive incour 13. Capital gain on the sale of real property located in Singapore by a Filipino residing in the Malaysia is c. Not subject to tax d. Capital gains tax a. Subject to personal income tax using graduated rates of 0% to 35% b. Subject to final tax on passive income c. Subject to capital gains tax d. Not subject to any income tax 14. Under an irrevocable trust agreement, Mr. X transferred an income-producing property to Mr. Y for the benefit of Mr. Z. During the year, the net income of the trust property amounted to P10,000,000, out of which P4 million was given by Mr. Y to Mr. Z? Which of the following is wrong? a. The income distributed to Mr.Z is deductible from the income of the trust property. b. The net income of the trust property, net of the amount distributed to Mr. Z, is taxable to c. The net income of the trust property, net of the amount distributed to Mr. Z, is taxable to the trust. Mr. X. d. The income distributed to Mr.Z is taxable to him