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- Income tax payments to a foreign country in the case of a resident citizen taxpayer may be claimed as either a or b, at the option of the taxpayer. allowed deduction. O neither a nor b. tax credit.Which of the following income derived from within the Philippines by a resident individual is not subject to the rates in Section 24(A) of the NIRC? Which of the following income derived from within the Philippines by a resident individual is not subject to the rates in Section 24(A) of the NIRC? a. A gain from sale of a motor vehicle as another income of a taxpayer who is a compensation income earner b. A passive income in the form of prize won in a raffle amounting to PHP 4,000 c. Salary received by a managing partner of a general professional partnership d. A gain on sale of a real property for private use of the family of the taxpayerA _____________________________ is a means of ensuring that the expatriate’s after-tax income in the host country is similar to what the person’s after-tax income would be in the home country A) International tax management system B) HRM system C) Nucor sytem D) Tax deduction system E) Tax equalization system
- An alien individual whether resident or not of the Philippines is taxable only on income from within. TRUE OR FALSE?How to compute estate tax payable for a non-resident alien in the philippines?Which of the following taxpayers is taxable on income from all sources within and outside the Philippines? a) Domestic corporation b) Resident foreign corporation c) Resident citizen d) Both "a" and "c"
- (resident citizen from philippines) Question: How much is the taxable income?TRUE OR FALSE income tax paid abroad is a deductible item by a resident alien in the PhilippinesY received the following items of income during the taxable year: If Y is a resident alien, how much is the total income subject to regular income tax? (Within means earned within the Philippines, without means earned outside of the Philippines). a. P1,800,000 b. P1,740,000 c. P1,700,000 d. P1,200,000
- 1. Which of the following is required to file an income tax return? A. An employee covered by the substituted filing system. B. A taxpayer deriving purely passive income subject to final tax. C. A special alien with respect to his compensation income. D. A non-resident citizen who derives his entire income form sources outside the Philippines. 2. The taxable income of a mixed income earner is the : A. Net income from business less personal exemption B. Net income from business C. Taxable compensation income D. Taxable compensation income plus net income from business.1. Determine the amount of basic tax if the person is classified as resident citizen 2. Determine the amount of basic tax if the person is classified as non-resident citizen 3. Determine the amount of final tax if the person is classified as resident citizen 4. Determine the amount of final tax if the person is classified as non-resident citizen 5. Determine the amount of final tax if the person is classified as non-resident alien engaged in trade and businessA taxpayer with which of the following incomes is eligible to claim the Foreign Tax Credit? 1. Foreign taxable income. 2. Refundable foreign taxable income. 3. U.S. income tax on U.S.-source income. 4. U.S. income tax on foreign-source income imposed on another taxpayer. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
