Question
PHILIPPINE TAXATION 2020 (TRAIN LAW) PEDRO, resident citizen, married, derived income from sources within and outside the Philippines. The following were the data on his
PHILIPPINE TAXATION 2020 (TRAIN LAW)
PEDRO, resident citizen, married, derived income from sources within and outside the Philippines. The following were the data on his taxable income and foreign taxes for the year 2020:
Net Income, Philippines P150,000
Net Income Brunei (before P5,000 income tax) P200,000
Net Income, Thailand (after P30,000 income tax) P70,000
Net Income, Japan (before P30,000 income tax) P150,000;
Net income, Singapore (P150,000)
Net Income, India (no income tax paid) P50,000.
The taxes paid by PEDRO for the first three quarters for the taxes within were P10,000.
How much is the income tax payable?
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