INCOME TAXATION

1) If Juan Da Kuan is a resident citizen and is earning purely business income for 2018 taxable year with the following details: Gross sales of Php2,800,000 and Cost of sales of Php1,200,000 and Operating expenses of Php650,000 and rental income (net of CWT) of Php380,000 and other creditable withholding taxes of Php80,000; how much is Juan Da Kuan's Income tax due and payable for 2018? *

Multiple Choice:

• Php209,000
• Php195,000
• Php295,000
• Php95,000

2) If Lorna Da Ganda is a resident citizen and is earning compensation income and business income for 2018 with the following details: Compensation income of Php1,400,000 and Gross sales of Php2,800,000 and Cost of Sales of Php1,200,000 and Operating expenses of Php650,000 and Withholding tax on compensation income of Php310,000 and other creditable withholding taxes of Php80,000; how much is the income tax due and payable of Lorna Da Ganda for the year 2018? *

Multiple Choice:

• Php 95,000
• Php 212,000
• Php144,000
• Php184,000