PHILIPPINES TAXATION

1. John is a resident of QC. He sold his family home from P4,000,000 which was previously acquired for P2,000,000. Juan complied all BIR requirements to avail of tax exemption and spent P2,500,000 in acquiring new family home. How much is the capital gains tax to be paid by John?

2. Matthew was sideswiped by Juan in a vehicular accident in 2020. Consequently, he incurred and paid medical expenses of P400,000 and legal fees of P200,000 during the year. Later during the year, he accepted the P800,000 settlement offered by Juan. Compute the amount of income subject to regular/basic income tax.

3. A taxpayer received in 2021 the following passive income within Philippines: Interest on bank deposit under FCDU P212,500; Royalty on books P84,500; Dividend income from a domestic corporation P144,500. If the taxpayer is a non-resident alien engaged in business, the final tax on the above passive income is