Inday is settling the estate of his Filipino husband Nicanor, who died intestate in the Netherlands where he works as an OFW. The following are the summary of the details of Nicanor’s properties in connection with the processing and payment of his estate tax:     Philippines Brazil Netherlands Gross estate 5,000,000 20,000,000 15,000,000 Allowable Deductions 5,000,000 10,000,000 5,000,000 Net estate 0 10,000,000 10,000,000 Estate tax paid   Php 500,000 1,500,000   How much is the ESTATE TAX PAYABLE?

Assuming Ana is a non-resident alien, the gross estate is: Ana, died in Syria leaving the following properties: P 1,000,000 2,000,000 100,000 House and lot in Syria Vacant lot in Manila Shares of stock in a foreign corp., 70% of the business is located in the Philippines Shares of stock in a domestic 200,000 corp., 60% of the business is located in the Philippines Car in Manila 500,000 P2,000,000 P2,500,000 P3,800,000 P2,600,000

Richard has $30,000 of income from a country that imposes a 40-percent income tax and $30,000 of income from a country that imposes a 34 percent income tax. In addition to the foreign income, he has taxable income from US sources of $120,000 and a US tax liability, before credits, of $45,575. The amount of Richard’s foreign tax credit is:

Mr Generous is a South African resident and contacted you as his tax practitioner to assist him in completing his taxable income calculation for the 2023 year of assessment. Mr Generous calculated his taxable income as R950 000 in respect of the 2023 year of assessment, excluding the following transactions: On 31 December 2022, he donated R100 000 to the SPCA, a registered public benefit organisation. The SPCA issued him with a valid section 18A receipt. He also donated R10 000 to his church, which is not registered as a public benefit organisation, on 23 March 2023. On 4 January 2023, he bought his wife a new car worth R 200 000 for her birthday. Calculate Mr Generous' S18A deduction for the 2022 year of assessment.

Simon is a resident for tax purposes. During the year he derived gross wages of $50,000 from his employer in Sydney, $2,000 interest from Australian investments, and $8,000 of rent from an overseas property. Giving reasons, calculate the taxable income for Simon

48 Inday, a resident of Manila City is the executor of Nicanor, a Filipino migrant in Canada. Nicanor’s home province in the Philippines is Pampanga while the property is located in Cebu City. In processing Nicanor’s estate, the estate tax return shall be filed in:  Group of answer choices  Office of the Commissioner thru RDO 39-South Quezon City  Manila City  Cebu City  Pampanga

Determine the taxable income for the year. (PHILIPPINES)

Brian and Clara paid $4,350 in foreign income taxes to Mexico. Their total income was $105,000, which included $16,000 of foreign income. Their U.S. tax liability is $22,750. How much can Brian and Clara claim as foreign tax credit?   Multiple Choice   $4,350.   $3,467.   $16,000.   $0.

Mr. Wakana, a resident Japanese decedent, deed with the following properties: A house and lot in Japan P2,000,000 Bank deposit in the Philippines 600,000 A car in the Philippines 1,000,000 A residential lot in the USA 1,500,000 Compute the amount to be included in gross estate.