s. Saranghe, a Japanese engineer residing in Seoul Korea, was contracted by onstruction Philippine Corp. to assemble in the Philippines an equipment it bought in apan. She stared the work in the Japan and spent 10 days there. The assembling job w ompleted in the Philippines for another 20 days. She was paid P300,000 for her job. low much was the income from the Philippine source?
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- 1. Mr. Abu, a Japanese engineer residing in Tokyo, Japan, was contracted by adomestic corporation to assemble in the Philippines an equipment it bought in Japan. He started to work in Japan and spent 10 days there. The assembling job was completed in the Philippines for another 20 days. He was paid P300,000 for his job. How much is the income from Philippine source? 2. Mr. Joshie, a Filipino citizen and a resident of Baguio City, won P10,000 in a PCSO draw last May 8, 2018. His income tax is? 3. Maki is a stockholder in both Agrix Corporation (domestic corporation) and Atlanta corporation (non-resident foreign corporation). During the year, Jhaeron earned P100,000 dividends from Agrix and P300,000 dividends from Atlanta. Maki is a Filipino citizen residing in the Philippines. How much of the dividendincome of Maki is subject to income tax in the Philippines?Mr. Abu, a Japanese engineer residing in Tokyo, Japan, was contracted by a domestic corporation to assemble in the Philippines an equipment it bought in Japan. He started to work in Japan and spent 10 days there. The assembling job was completed in the Philippines for another 20 days. He was paid P300,000 for his job. How much is the income from Philippine source? A. 100,000 B. 200,000C. 100,000D. None1. Ms. Fely Fina, a resident Filipino, an employee of ABC Company in the Philippines works as a Human Resource Officer earning a salary of P20,000.00 a month. Ms. Fely Fina due to her expertise in human resource management was deployed to XYZ Company, a branch Of ABC Co. based at Hongkong. She receives a salary of 30,000 Hongkong dollar. After one year, she was recalled and went back to her mother company ABC in the Philippines. Based on the facts cited above, are the incomes of Ms. Fely Fina both from the Philippines and Hongkong taxable income? If your answer, is yes why? If your answer is no, why?
- Mica is the chief chemist of V Medical Hospital Inc. As reward for good performance, she was sent by her employer to the United States to attend a 3-day convention of International Association of Medical technologists. She was booked on a first class ticket that cost the company US $2,000 ($1=P50) for a round trip ticket. Economy ticket costs only $1,200. She was likewise given an allowance to bw used for her meals and local transportation at a rate of US $100 daily which is subject to liquidation. The amount of fringe benefit-tax is---During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000. • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident alien, how much is her total income liable to income tax? A. 720,000 B. 930,000 C. 1,010,000 D. 1,650,000During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000. • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident citizen, how much is her total income liable to income tax? 720,000 800,000 1,650,00 1,730,000
- During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000. • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident citizen, how much is her total income liable to income tax? A. 720,000 B. 800,000 C. 1,650,000 D. 1,730,000 If Mina is a resident alien, how much is her total income liable to income tax? A. 720,000 B. 930,000 C. 1,010,000 D. 1,650,000During the year, Mina earned the following. • Rent received during trip in Macau for properties in Bulacan, P370,000. • Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong . • Business income of a service business in Ireland, P600,000. • Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000 . • Compensation income from a domestic employer, P420,000. • Consultancy fees for professional services rendered to an Filipino company, P100,000 . • Increase in the fair value of domestic stocks, P80,000. If Mina is a resident citizen, how much is her total income liable to income tax? If Mina is a resident alien, how much is her total income liable to income tax?During the year, Sabrina earned the following. Rent received during trip in Macau for properties in Bulacan, P370,000. Gain on sale of technical gadgets stored in Cavite, P120,000. The sale was perfected in Hong Kong. Business income of a service business in Ireland, P600,000. Interest income from a resident debtor collected whilst on business travel in Phnom Penh, P40,000. Compensation income from a domestic employer, P420,000. Consultancy fees for professional services rendered to an Filipino company, P100,000. Increase in the fair value of domestic stocks, P80,000. Question: 1. If Sabrina is a resident citizen, how much is her total income liable to income tax? 2. If Sabrina is a resident alien, how much is her total income liable to income tax?
- Alam Damai Sdn Bhd (Alam Damai), a well-known restaurant, hired an expert from Australia, Mr Andrew, in order to advice on work process and to give guidance on ways to improve the equipment used by Alam Damai in their kitchen, starting from 1 July 2013. In order to perform the service, Mr Andrew will be spending around 80 days in Malaysia. Alam Damai will be paying RM200,000 to Mr Andrew in 2013. There is no double tax agreement between Malaysia and Australia. Alam Damai closes its accounts annually to 30 June. 2(a)(i) With regard to Mr AndrewBy taking Mr Andrew resident status into consideration, discuss why the technical fee payable to him is derived from Malaysia 2(a)(ii) Discuss accordingly the tax mechanism and how much he will be taxed. 2(b)(i) With regard to Alam Damai Provide opinion on why fee payment made to Mr Andrew can be regarded as capital and revenue. 2(b)(ii) Alam Damai need to comply with certain tax requirement pertaining to the fee payment made to Mr Andrew, discuss…W bought a new printing machine from abroad. The cost of the machine was $80,000. The installation costs were $5,000 and the employees received specific training on how to use this particular machine, at a cost of $2,000. Before using the machine to print customers' orders, a test was undertaken and the paper and ink cost $1,000. What should be the cost of the machine in the company's statement of financial position?Pablo is a Portuguese resident employed by a Portuguese company. He is sent to Australia to work on a short- term project to assist with the establishment of a branch office of the company in Australia. Pablo works in Australia for one month. Throughout this period, his salary was paid into his Portuguese bank account. During the year, he earned the equivalent of A$120,000 from his employment. Does Pablo have to pay Australian tax on any of his salary? not more than 300 words