1. A depositary bank under foreign currency deposit system has the following income from foreign currency transactions (Exchange Rate $1 = P45):

From Nonresidents $5,000

From residents $3,000

From Philippine National Bank $2,000

How much is the final withholding tax applicable on the above income? Php 3,000 x 45 x 10% (residents only)

Use the following data for the five (5) next questions:

A domestic corporation has the following income and expenses for the year.

	Phils	Abroad
Gross sales	100,000.00	50,000,000.00
Cost of Sales	40,000.00	20,000,000.00
Operating Expenses	30,000.00	12,000,000.00

1. How much is the income tax due assuming the taxable year was 2020?
2. How much is the income tax due assuming the taxable year is 2021?
3. How much is the income tax due assuming the taxable year is 2021 and the company's total assets amounted to Php 80M only?
4. How much is the income tax due assuming: taxable year 2021;RFC?
5. How much is the income tax due assuming: taxable year 2021;NRFC?