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Determine the amount of basic income tax assuming the individual is classified as a resident citizen. Gross business income, Philippines 4,000,000 Gross business income, Singapore
Determine the amount of basic income tax assuming the individual is classified as a resident citizen.
Gross business income, Philippines | 4,000,000 |
Gross business income, Singapore | 3,000,000 |
Business expenses, Philippines | 1,500,000 |
Business expenses, Singapore | 1,750,000 |
Interest income – BPI Philippines | 90,000 |
Interest income – BPI Singapore | 70,000 |
Dividend income from a domestic Corp. | 150,000 |
Dividend income – resident foreign Corp. | 75,000 |
Dividend income – non-resident foreign Corp. | 125,000 |
Interest income received from a depository FCDU | 50,000 |
Philippine lotto winnings | 10,000 |
Philippine Charity sweepstakes winnings | 400,000 |
Singapore sweepstakes winnings | 250,000 |
Other winnings – Philippines | 50,000 |
Prizes – Robinsons Manila | 9,000 |
Prizes – SM manila | 20,000 |
Prizes – Singapore | 30,000 |
Interest income from long-term deposit | 10,000 |
Interest income from long-term investment (pre-terminated on 2nd year) | 5,000 |
Share dividend from San Miguel Corp. | 7,500 |
Interest income from loans receivable | 10,000 |
Royalty income from franchise | 100,000 |
Royalty income from books | 50,000 |
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