Question
Determine the income tax and final tax for a (1) Resident citizen tax payer, (2) Non-resident citizen (3) Resident alien (4) Non-resident alien engaged in
Determine the income tax and final tax for a (1) Resident citizen tax payer, (2) Non-resident citizen (3) Resident alien (4) Non-resident alien engaged in trade, and (5) Non-resident alien not engaged in trade or business provided the following information:
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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