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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, Philippines4,000,000
Gross business income, Singapore3,000,000
Business expenses, Philippines1,500,000
Business expenses, Singapore1,750,000
Interest income – BPI Philippines90,000
Interest income – BPI Singapore70,000
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 FCDU50,000
Philippine lotto winnings10,000
Philippine Charity sweepstakes winnings400,000
Singapore sweepstakes winnings250,000
Other winnings – Philippines50,000
Prizes – Robinsons Manila9,000
Prizes – SM manila20,000
Prizes – Singapore30,000
Interest income from long-term deposit10,000
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 receivable10,000
Royalty income from franchise100,000
Royalty income from books50,000

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