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Mr. A, resident citizen had the following income in 2019: Business Income 500,000 Professional income 200,000 Business expense 100,000 Expense related to profession 25,000 Interest
Mr. A, resident citizen had the following income in 2019:
Business Income 500,000
Professional income 200,000
Business expense 100,000
Expense related to profession 25,000
Interest income from bank deposit 150,000
Dividend Income 50,000
Interest Income from 120,000
using tax law of the Philippines:
How much is the taxable income subject to regular income tax?
How much is the regular income tax due?
How much is the total income subject to final tax?
How much is the final tax?
Please explain, thank you.
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