Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Fill in the blanks: Final taxes if resident citizen Final taxes if non-resident citizen Final taxes if resident alien Final taxes if non-resident alien


    

Fill in the blanks: Final taxes if resident citizen Final taxes if non-resident citizen Final taxes if resident alien Final taxes if non-resident alien engaged in trade or business in the Philippines Final taxes if non-resident alien not engaged in trade or business in the Philippines (disregard data for gross income and expenes) Final taxes if domestic corporation Final taxes if resident foreign corporation Final taxes if non-resident foreign corporation Capital gains tax Taxable Income if resident citizen Taxable Income if non-resident citizen Taxable Income if resident alien Taxable Income if NRA-ETB Taxable Income if NRA-NETB Taxable Income if DOMESTIC CORP Taxable INcome if RFC Taxable Income if NRFC A taxpayer had the following data: Gross Income, USA Gross Income, Philippines - Interest on peso deposit at MBTC, Phils (maturity of 6 years) Interest on dollar deposit at Bank of America (P40:$1) Dividend income from domestic corporation Share in profits of a taxable partnership Dividend from a non-resident foreign corporation Prize in a barangay beauty pageant Casual sale of shares of stock of a domestic corporation (direct to buyer) SP-P800,000, FMV 850,000, Cost P450,000 Capital gain on sale of bonds Royalty on books published by Made Easy Bookstore, Manila Expenses, USA Expenses, Philippines P1,500,000 2,500,000 10,000 10,000 20,000 50,000 25,000 5,000 12,000 15,000 P950,000 1,000,000

Step by Step Solution

3.33 Rating (153 Votes )

There are 3 Steps involved in it

Step: 1

1 The final taxes for a resident citizen is P195000 This is calculated by taking the gross income of P1500000 and subtracting the expenses of P950000 ... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

A First Course in Differential Equations with Modeling Applications

Authors: Dennis G. Zill

11th edition

1305965728, 978-1305965720

More Books

Students also viewed these Accounting questions

Question

What is an access control list?

Answered: 1 week ago