Question
6.Mr. George Hames is a Syrian and a resident of Damascus, Syria. He requested you to file his Philippine income tax return for 2020. The
6.Mr. George Hames is a Syrian and a resident of Damascus, Syria. He requested you to file his Philippine income tax return for 2020. The following information were forwarded to you:
Gross income from Philippines
Interest income from BPI bank depositsP3,000,000
Dividend income from domestic corporations500,000
Less: Expenses(300,000)
Net income in the Philippines3,200,000
Add: Net income in Syria (Peso equivalent)5,000,000
Total net incomeP8,200,000
Taxable income you will report is:
P0
P3,500,000
P3,000,000
P3,200,000
7.Pedro, a resident citizen, received the following during 2020:
Proceeds from copyright royalty, net of taxP11,250
Proceeds from mineral claim royalty, net of tax12,000
Share from trading partnership, net of withholding tax270,000
How much is the total final tax on Pedro's income?
P50,000
P31,250
P4,250
P34,250
8.Pedro, a resident citizen, received the following during 2020:
Proceeds from copyright royalty, net of taxP11,250
Proceeds from mineral claim royalty, net of tax12,000
Share from trading partnership, net of withholding tax270,000
How much is the income tax still due and payable of Pedro in 2020?
P50,000
P0
P31,250
P34,250
9.A taxpayer received in 2018 the following passive income within Philippines, net of applicable tax, if any:
Interest on bank deposit under FCDUP212,500
Royalty on books94,500
Dividend income from a domestic corporation144,000
If taxpayer is a resident alien, the final tax on the above passive income would amount to
P46,500
P84,000
P41,194
P64,000
10.A taxpayer received in 2018 the following passive income within Philippines, net of applicable tax, if any:
Interest on bank deposit under FCDUP212,500
Royalty on books94,500
Dividend income from a domestic corporation144,000
If taxpayer is a non-resident alien engaged in business, the final tax on the above passive income would amount to
P64,000
P46,500
P84,000
P41,194
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