Compensation income, Philippines,   P     800,000 Gross business income, Philippines,   P1,200,000 Business expenses, Philippines, P 800,000 Gross business income, Canada, P600,000 Business expenses, Canada, P 500,000 Dividend income from a domestic corporation, P 60,000 Dividend income from foreign corporation, P 50,000 Interest income from peso bank deposit, Philippines , P 30,000 Interest income from bank deposits, Canada, P 40,000 Interest income from FCDS deposits, P 50,000    Royalty income from literary works, P 35,000 Raffle draw winnings, Philippines, P 10,000 PCSO Lotto winnings, P 200,000 Creditable withholding taxes on business income, P 125,000 Compute for the Total final tax on passive income assuming the taxpayer is a:   Resident Citizen (RC)   Non-resident Citizen (NRC)   Resident Alien (RA)   Non-Resident Alien engaged in trade or business (NRA-ETB)

SWFT Corp Partner Estates Trusts
42nd Edition
ISBN:9780357161548
Author:Raabe
Publisher:Raabe
Chapter9: Taxation Of International Transactions
Section: Chapter Questions
Problem 28P
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      • Compensation income, Philippines,   P     800,000
      • Gross business income, Philippines,   P1,200,000
      • Business expenses, Philippines, P 800,000
      • Gross business income, Canada, P600,000
      • Business expenses, Canada, P 500,000
      • Dividend income from a domestic corporation, P 60,000
      • Dividend income from foreign corporation, P 50,000
      • Interest income from peso bank deposit, Philippines , P 30,000
      • Interest income from bank deposits, Canada, P 40,000
      • Interest income from FCDS deposits, P 50,000   
      • Royalty income from literary works, P 35,000
      • Raffle draw winnings, Philippines, P 10,000
      • PCSO Lotto winnings, P 200,000
      • Creditable withholding taxes on business income, P 125,000

Compute for the Total final tax on passive income assuming the taxpayer is a:

  1.   Resident Citizen (RC)
  2.   Non-resident Citizen (NRC)
  3.   Resident Alien (RA)
  4.   Non-Resident Alien engaged in trade or business (NRA-ETB)      
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