Question
Peter, a resident citizen, received the following during 2020: Proceeds from copyright royalty, net of tax P11,250 Proceeds from mineral claim royalty, net of tax
Peter, a resident citizen, received the following during 2020:
Proceeds from copyright royalty, net of tax P11,250
Proceeds from mineral claim royalty, net of tax 12,000
Share from trading partnership, net of withholding tax 270,000
How much is the total final tax on Peters income?
d. P 4,250
c. P31,250
a. P50,000
b. P34,250
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
Bank Management Text And Cases
Authors: George H. Hempel, Alan B. Coleman, Donald G. Simonson
3rd Edition
0471621781, 978-0471621782
