Question
Interest from peso (Philippine Currency) deposit account, BDOPHP10,000 Interest from PH (Philippine Currency) bank under expanded FCDS 50,000 Interest from PH investment company (maturity of
Interest from peso (Philippine Currency) deposit account, BDOPHP10,000
Interest from PH (Philippine Currency) bank under expanded FCDS 50,000
Interest from PH investment company (maturity of 10 years) 90,000
Interest from a bank abroad (converted into peso) 10,000
Prize won in the Philippines 20,000
Prize won abroad (converted into peso) 30,000
PCSO winnings7,000
Royalties, in general20,000
Royalties from musical composition 15,000
Dividend received from domestic company 60,000
Dividends received abroad (converted into peso) 80,000
Gross receipt from profession, Philippines 650,000
Gross receipt from business, Philippines250,000
Business expenses which does not meet the requirements and
definition of Section 34 (A) of the Tax Code (50,000)
Compute for the following
3. Passive income, if the taxpayer is a:
a. Resident Citizen
b. Non Resident Citizen
c. Resident Alien
d. Non Resident Alien Engaged in Trade or Business
e. Non Resident Alien Not Engaged in Trade or Business
4. Final tax withheld by the payer, if the taxpayer is a:
a. Resident Citizen
b. Non Resident Citizen
c. Resident Alien
d. Non Resident Alien Engaged in Trade or Business
e. Non Resident Alien Not Engaged in Trade or Business
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