4. A, non-resident citizen, has the following income within and without the Philippines for 2018: Interest income from depository bank under expanded foreign currency deposit system in Philippines Dividend income Within 70,000 the Phil Royalty income-others Business income-net of expenses Interest income-bank deposits What is the total final income tax due of A? 90,000 50,000 200,000 30,000 Abroad 60,000 40,000 300,000 40,000

4. A, non-resident citizen, has the following income within and without the Philippines for 2018: Interest income from depository bank under expanded foreign currency deposit system in Philippines Dividend income Within 70,000 the Phil Royalty income-others Business income-net of expenses Interest income-bank deposits What is the total final income tax due of A? 90,000 50,000 200,000 30,000 Abroad 60,000 40,000 300,000 40,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A non-resident alien not engaged in trade or business derived the following income from the Philippines: Interest income on his long-term bank deposit here in the Philippines, P50,000Interest income on his bank deposit under the EFCDS ($1 = P50), $500How much is the income tax due?
5. A, non-resident alien engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Within Abroad the Phil Interest income from depository bank under expanded foreign currency deposit system in Philippines 70,000 90,000 50,000 60,000 40,000 300,000 40,000 20,000 Dividend income Royalty income-others Business income-net of expenses Interest income-bank deposíts Prizes / winnings 250,000 30,000 9,000 What is the total final income tax due of A? Based on number 5, what is the basic income tax due of A?
Problem Solving 1.A, non-resident alien not engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Within the Abroad Salary and allowances Dividend income Royalty income Phil 100,000 90,000 50,000 150,000 60,000 40,000 What is the income tax due / payable of A?
Taxpayer is a VAT registered with the following data for August 1, 2021 vat not included: Sales, exports.... Sales, Philippines.. Sales, to the Government of the Philippines. Purchases from VAT suppliers: Of goods exported... Of goods sold in the Philippines. Of goods sold to the Government of the Philippines. How much is the VAT payable to the BIR? P 1,000,000 1,500,000 500,000 400,000 600,000 200,000
ABC Corporation has the following data for the 2019: Gross Income, Philippines P2,500,000 1,000,000 1,500,000 800,000 Expenses, Philippines Gross Income, Japan Expenses, Japan Interest on bank deposits, Philippines How much is the income tax due if ABC Corporation is a foreign corporation with no branch or office in the Philippines? O P756,000 OP664,000 O P660,000 OP450,000 20,000 K
The following are the revenue items in the Income Statement of a domestic corporation for the year 2021:Interest income from bank deposit, Philippines, P40,000Yield from deposit substitute, Philippines, P80,000Interest income received from a depositary bank under EFCDS, Philippines, P60,000Interest income from bank deposit, USA, P400,000Interest on trade notes receivable, Philippines, P30,000Advance rent for 2 years, Philippines, P600,000Royalties, Philippines, P100,000Royalties, USA, P300,000Dividend received from domestic corporation, P150,000Dividend received from a foreign corporation, P350,000Prizes and winnings, Philippines, P400,000Refund of Philippine value-added tax, P100,000How much is the total final withholding taxes on passive income?
D. Tax credit for income tax paid or incurred to a foreign country 1. Assume that a resident citizen has the following taxable income from sources in the Philippines and in Dallas, Texas, USA, for year 2022: Taxable income, Philippines Taxable income, Dallas, Texas, USA Income tax paid in Dallas, Texas, USA P 5,495,000 2,355,000 824,250 Required: Compute income tax still due or payable after tax credit.
21. A resident alien has a net business net income of P2,200,000 i n the Philippines and P1,250,000 from abroad. Compute the income tax due* a. P 654,000 b. P 454,000 c. P 554,000 O d. P 754,000
1.A, non-resident alien not engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Within the Phil Abroad Salary and allowances 100,000 150,000 Dividend income 90,000 60,000 Royalty income 50,000 40,000 What is the income tax due / payable of A?
2. Individual earning income purely from business/profession Assume that for year 2023, a resident citizen has the following income from sources in the Philippines and abroad: In the Philippines - Sales Less: Cost of sales Gross income Less: Operating expenses Net income from operation Add: Other non-operating income Taxable income - Philippines Abroad - country X Taxable income Income tax paid P21,000,000.00 12,600,000.00 8,400,000.00 5,250,000.00 3,150,000.00 1,050,000.00 4,200,000.00 2,688,000.00 940,800.00 Required: Compute income tax still due or payable after tax credit for year 2023.
Problem 1: A non-resident alien not engaged in trade or business derived P50,000 interest income from his long-term bank deposit here in the Philippines. How much is the income tax due of the said alien?
ENKANTADYA Corporation furnished you its financial data for 2018 as follows: Gross income, Philippines - P 800,500Expenses, Philippines - 450,000Gross income Singapore - 700,000Expenses, Singapore - 400,000Personal expenses - 150,000Interest from time deposits, BPI, Philippines - 20,000 Interest on money market placement, net of tax - 22,000What is the amount of income tax due and payable assuming the company is a Resident Foreign Corporation (RFC)?