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Compute for the final income tax due given the following scenarios on passive income. Mark Remus has the following data on his passive income the

Compute for the final income tax due given the following scenarios on passive income. Mark Remus has the following data on his passive income the current year:

Philippines

Interest income from long-term peso bank deposits

P 45,000

Interest income from long-term Foreign Currency Deposit Unit (FCDU) deposits

P 50,000

Royalties from books

P 20,000

Royalties from computer programs

P 20,000

Winnings from an electronic raffle during Smart Communications 50th Anniversary (chosen randomly by the network using Smart subscribers sim card numbers)

P 10,000

Dividend income from a domestic corporation

P 27,000

Dividend income from a foreign corporation

P 33,000

Requirements:

  1. Assuming that Mark is a resident citizen, compute for his total final income taxes from his passive income.
  2. Assuming that Mark is a resident alien, compute for his total final income taxes from his passive income.
  3. Assuming that Mark is a non-resident citizen, compute for his total final income taxes from his passive income.
  4. Assuming that Mark is a non-resident alien engaged in trade or business, compute for his total final income taxes from his passive income.
  5. Assuming that Mark is a non-resident citizen alien not engaged in trade or business, compute for his total final income taxes from his passive income.

NOTE: All of these are taxable in the Philippines only. Final Tax is territorial in operation, therefore it is only taxable within the Philippines. However, it is only different rate because the class of taxpayers are different.

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