Juan, resident citizen, had the following income: Interest income from deposits in a foreign bank located in China – 300K Interest from domestic bonds – 50K Royalties from books published in the Philippines – 100K Rent income from properties abroad (the lease contracts were executed in the Philippines) – 150K Professional fees for services rendered in the Philippines to non-residen
Juan, resident citizen, had the following income: Interest income from deposits in a foreign bank located in China – 300K Interest from domestic bonds – 50K Royalties from books published in the Philippines – 100K Rent income from properties abroad (the lease contracts were executed in the Philippines) – 150K Professional fees for services rendered in the Philippines to non-residen
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 15P
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Juan, resident citizen, had the following income:
Interest income from deposits in a foreign bank located in China – 300K
Interest from domestic bonds – 50K
Royalties from books published in the Philippines – 100K
Rent income from properties abroad (the lease contracts were executed in the Philippines) – 150K
Professional fees for services rendered in the Philippines to non-resident clients (paid in US dollars) – 400K
Applying the situs rules, how much is Juan’s income without the Philippines?
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