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Please answer the table: (Assume that this is year 2020) (Don't mind the SAFE row) 1. Using the lesson above, Compute the Basic Income Tax
Please answer the table:
(Assume that this is year 2020)
(Don't mind the SAFE row)
1. Using the lesson above, Compute the Basic Income Tax due of each taxpayer: Classificatio Gross Gross Income Exempt Allowed Allowed Non Income Tax Due n of Income Income subject Income deduction Deductio Deductib Taxpayer Philippines Abroad to Final Philippin n Abroad le Tax es Business Expense 1. Resident 1,250,000 600,000 100,000 50.000 390,000 200,000 90,000 A. 8% Citizen B. Graduated rates 2. Non 900,000 1,000,000 50,000 190,000 400,000 400,000 100,000 A. 8% Resident B. Graduated rates Citizen 3. Resident 825,000 1,880,000 90,000 60,000 150,000 700,000 40,000 A. 8% Alien B. Graduated rates 4. Non 1,250.000 2,000,000 80.000 30,000 710,000 600.000 119,000 A. 8% Resident B. Graduated rates Alien engage in Business in the Philippines 5. SAFE 1,250,000 600,000 110.000 80.000 430,000 400,000 107,000 A. 15% B. Graduated rates 6. Non 1.250,000 600,000 20.000 100,000 198,000 100,000 60,000 A. 25% Resident Alien Not Engage in Business in the PhilippinesStep by Step Solution
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