Question
Miguel Ortiz, is a resident Citizen, who earns income from within and without the Philippines, during the taxable year, he had the following information Income
Miguel Ortiz, is a resident Citizen, who earns income from within and without the Philippines, during the taxable year, he had the following information
| Income – Philippines | ₱938,495.00 | |
| Income – Japan | (Exchange is ¥1 is ₱0.50) | ¥883,284.00 |
| Income - Korea | (Exchange is ₩1,000 is ₱50.00) | ₩105,183,500.00 |
| Income – Saudi Arabia | (Exchange is SAR1 is ₱12.80) | SAR293,050.00 |
| Philippine Taxes Paid | ₱348,390.00 | |
| Japan Taxes Paid | ¥92,092.00 | |
| Korea Taxes Paid | ₱247,231.00 |
| Saudi Arabia Taxes Paid | SAR |
How much is his income tax payable?
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Concepts In Federal Taxation
Authors: Kevin E. Murphy, Mark Higgins, Tonya K. Flesher
19th Edition
978-0324379556, 324379552, 978-1111579876
