Question
A, a resident alien, had the following in 2019: Gross Income, Philippines P 2,000,000 Business connected expenses 1,200,000 Dividends received: From domestic corporation (net): 60%
A, a resident alien, had the following in 2019:
Gross Income, Philippines P 2,000,000
Business connected expenses 1,200,000
Dividends received: From domestic corporation (net): 60% of its income came from a Philippine source 90,000 40% of its income came from a Philippine source 72,000
From resident foreign corporation (gross): 60% of its income came from a Philippine source 50,000 40% of its income came from a Philippine source 40,000
Question 1: A's net taxable income is
A. P800,000 B. P780,000 C. P796,000 D. P750,000 79.
Question 2: Using the data above, the final withholding taxes on the dividends amount to
A. P16,200 B. P25,200 C. P18,000 D. P26,000
Please answer ASAP. I will surely upvote if correct.
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