Assuming that the taxpayer is a resident citizen, the taxable income (subject to ordinary income tax) would be:
Assuming that the taxpayer is a resident citizen, the taxable income (subject to ordinary income tax) would be:
Chapter25: Taxation Of International Transact Ions
Section: Chapter Questions
Problem 29P
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The taxpayer had the following data at the end of the current year:
|
Philippines |
South Korea |
|
|
Gross profit from sales |
P3,000,000 |
P10,000,000 |
|
Interest from FC bank deposit |
20,000 |
40,000 |
|
Royalties from patents |
60,000 |
100,000 |
|
Dividends from domestic corporation |
50,000 |
0 |
|
Prizes |
12,000 |
0 |
|
Operating expenses |
2,000,000 |
5,000,000 |
Assuming that the taxpayer is a resident citizen, the taxable income (subject to ordinary income tax) would be:
P1,000,000
P6,282,200
P6,000,000
P6,140,000
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