Determination of Applicable Tax

(Final Withholding Tax on Passive Income, Basic Income Tax, Exempt)

Determine whether the income described below is subject to fir withholding tax on passive income, basic income tax or exempt from income tax.Write the following in the TAX TYPE column:

F= if the income described is subject to final withholding tax on passive income. In addition, if such income is subject to FWT, provide the correct FWT rate in the TAX RATE column.

B = if the income described is subject to basic income tax.

E = if the income described is exempt from income tax

Unless provided otherwise, assume the taxpayer is a resident citizen.

TAX TYPE TAX RATE

1. Interest from peso bank deposit, BDO, Makati

2. Interest from US dollar bank deposit, BPI-Manila

3. Interest from a foreign currency deposit in Japan

4. Interest from money market placement, Philippines

5. Interest from a foreign currency deposit in Australia by a nonresident citizen

6. Interest from overdue accounts receivable, Philippines

7. Compensation income, Philippines

8. Business income, Philippines

9. Gain from sale of car for personal use

10. Gain from sale of delivery truck

11. Royalties, in general, Davao City

12. Royalties, books published in Manila

13. Prizes amounting to P30,000, Philippines

14. Prizes amounting to P 10,000, Philippines

15. Prizes amounting to P40,000, USA

16. P30,000 Other Winnings, Philippines

17. P10,000 Other Winnings, Philippines

18. P15,000 Other Winnings, Canada

19. P10,000 Phil. Lotto/PCSO winnings

20. P100,000 PCSO winnings by a resident alien

21. Philippine Lotto/PCSO winnings by a nonresident alien not engage in trade or business

22. Lotto winnings in London

23. Interest income from long-term bank deposit by a resident alien

24. Interest income from long-term bank deposit by a nonresident alien not engaged in trade or business

25. Interest income from a government issued bonds with maturity of ten (10) years

26. Interest income from' bonds issued by PLDT with maturity of ten (10) years

27. Dividend income from a domestic corporation

28. Dividend income from a resident foreign corporation

29. Dividend income from a nonresident foreign corporation

30. Dividend income from a domestic corporation by a nonresident alien engaged in trade or business