TOPIC: Expanded withholding taxes

RIGHT OR WRONG

1.Expanded withholding tax is a creditable tax against actual tax due.

2.Income withheld with expanded withholding tax is returnable in form 1701

3.The expanded withholding tax is to be remitted by withholding agent monthly via form 0619F

4.Monthly Expanded withholding tax is required to be remitted on or before the 10th of the month following the taxable month

5.Expanded withholding tax is also required to be reported quarterly by the withholding agent.

6.A VAT registered laundry service business is renting its business place at P25,000 per month. How much should it pay the land lord for its rent for the month, net of expanded withholding tax if the land lord is generating more than P3M gross receipt per year

(3.75k, 22.5k, 23.75k, 24.5k)

7.A single proprietorship business in paying its auditor with professional fee of P50,000. How

much expanded withholding tax should it be deducting from P50,000 and remit to BIR?

(7.5k, 5k, 1k, 500)

8.Big Corporation is paying the Medical doctor's fee of P100,000. The medical doctor furnished

Big Corporation with form B-2. How much should Big Corporation withhold as expanded

withholding tax from the P100,000 fee?

(15k,10k,5k, 2k)

9.A practitioner lawyer sold his idle lot for P3,000,000 to client X. How much should client X

withhold as tax from the proceeds of lot sold to him.

(180k, 150k, 90k, not in the list)

10.A,B,C are partners in TRIO professional partnership. They share profit and loss equally. For the

year, the TRIO partnership earned net income of P2,400,000. How much should be withheld as

expanded withholding tax from each share of each partner?

(120k, 80k, 40k, not in the list)

note: i dont need explanations. i just need answers. thanks