Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Interest income, US dollar deposit, BDO-Mandaluyong Gain from sale of residential house and lot (selling price, P3,000,000; FMV, time of sale, P5,000,000) b. Use
Interest income, US dollar deposit, BDO-Mandaluyong Gain from sale of residential house and lot (selling price, P3,000,000; FMV, time of sale, P5,000,000) b. Use the following data for the next three (3) questions: A resident citizen, married, with two (2) qualified dependent children has the following data for the year 2021: Gross sales, Philippines Sales returns and allowances, Philippines Cost of sales, Philippines Gross sales, Ukraine Sales returns and allowances, Ukraine Cost of sales, Ukraine Business expenses, Philippines Business expenses, Ukraine Interest income, peso bank deposit BDO-Marikina P5,000,000 500,000 1,500,000 3,000,000 200,000 800,000 500,000 300,000 20,000 50,000 500,000 Gain from sale of shares of stock listed and traded in the local stock exchange (selling price, P100,000) 30,000 Gain from sale of shares of stock not traded in the local stock exchange 150,000 33. How much is the total final tax on passive income? a. P14,000 b. P7,750 c. P4,000 d. P11,500 34. How much is the capital gains tax due? a. P310,000 b. P300,000 C. P180,000 d. P322,500 35. How much is the taxable net income? a. P4,700,000 b. P4,280,000 c. P2,900,000 d. P4,200,000
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started