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. WESLEYAN WESLEYAN UNIVERSITY-PHILIPPINES Cushman Campus Mabini Extension, Cabanatuan City Philippines 3100 3. Taxpayer C presented the following data regarding the items of income he

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. WESLEYAN WESLEYAN UNIVERSITY-PHILIPPINES Cushman Campus Mabini Extension, Cabanatuan City Philippines 3100 3. Taxpayer C presented the following data regarding the items of income he earned during the taxable year 2020: Gross rental income From an apartment unit in USA Php 240,000 From a parcel of land in BGC 180,000 Royalties from book Publishedin the Philippines 30,000 Publishedin USA 20,000 Interest income earned on notes receivable From a debtor who resides in London 15,000 From a debtor who resides in Manila 25,000 Net profit from sales, merchandising business From Philippine outlet 300,000 From USA outlet 200,000 Dividend income from domestic corporations. The gross income from the Philippines in the past 3 years 60% of its worldincome 60,000 85% of its worldincome 80,000 Dividend income from resident foreign corporations. The gross income from the Philippines for the past 3 years 40% of its worldincome 40,000 60% of its worldincome 20,000 Prizes received from Supermarket raffle Fromthe Philippines ABC Supermarket 8,000 b. DEF Supermarket 12,000 From USA a. GHI Supermarket 6,000 b. JKL Supermarket 14,000 Winnings from lotto Philippinelotto 200,000 USA lotto 100,000 Compute the following: a. Total income from sources inside the Philippines b. Total income from sources outside the Philippines c. Assume that Taxpayer C is a resident citizen, what is the gross taxable income subject to regular income tax

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