Problem A. Final tax on passive income, CGT and ordinary tax Cristina had the following data for the year 2018: Business income, Philippines P 300,000 Business income, Singapore 250,000 Expenses, Philippines 200,000 Expenses, Singapore 125,000 Interest on deposit with BDO 3,000 Interest on FCDS 20,000 Cash price won in local contest 6,000 Cash price won in a contest in Singapore 10,000 Winnings in Lotto, Philippines 20,000 Winnings in Lotto, Singapore 50,000 Dividends from Robina Corp., domestic 25,000 Capital gains on the sale of domestic shares Not Taxlisted and traded in the stock exchange 22,400 Gain on the sale of vacant lot, thru a broker, located in Manila (market value - P 700,000) P 150,000 Gain from the sale of shares listed and traded In the stock market 50,000 How much is the taxable income? How much is the final tax on passive income? 3. How much the is the capital gains tax? 4. How much is the total final withholding tax? 5. How much is the total income tax due? 6. Assuming that Cristina is a professional who availed the 8% rule as provided by TRAIN LAW, and furthermore that business income represents her total receipts for the year, her total income tax due (expense) is - 7. Assuming that Cristina availed the OSD, and furthermore that business income represents her total receipts for the year, how much now is her total income tax due (expense)? Problem B. Individual vs. GPP vs. Business partnership Coco Martin and Julia Montes are partners in the following partnerships with 60% and 40% interest respectively. Data are as follows: Partnerships Gross Income Expenses Withdrawal by Coco Withdrawal by Julia Prof. Partnership A P 600,000 P 250,000 P 60,000 P 40,000 Prof. Partnership B 300,000 500,000 Bus. Partnership C 700,000 200,000 Bus. Partnership D 200,000 300,000 Share (dividend) in Bus. Part. C: 40,000 for Coco, and 20,000 for Julia; The partner's personal income and expenses are shown below