6.)

GIVEN: Taxpayer: Domestic corporation Tax period: 2021 Description IN (Phils) OUT (Abroad) Business gross income P5,550.000 8,000,000 Business expenses 2,100.000 3,000,000 Interest income from long term bank deposit 550.000 Interest income from short term bank deposit 200.000 Royalty income 5,000,000 Dividend income 6,500,000 9.250,000 COMPUTE: Taxable income subject to REGULAR income\fGIVEN: Taxpayer: Non-resident citizen Description IN (Phils) OUT (Abroad) Business gross income P550,000 Business expenses 100.000 Compensation income P600,000 COMPUTE: Taxable income in the Philippines\fGiven: Resident citizen taxpayer Net taxable income tax is P1,300,000 COMPUTE: Income tax due and payable