50

docx

School

Far Eastern University Manila *

*We aren’t endorsed by this school

Course

102

Subject

Economics

Date

Nov 24, 2024

Type

docx

Pages

1

Uploaded by ProfessorSandpiper3655

Report
Which of the following individual taxpayers may claim personal and additional exemptions for income tax purposes? Both a and b Non-resident aliens not engaged in trade or business in the Philippines Non-resident aliens engaged in trade or business in the Philippines, in the absence of reciprocity Neither a nor b Hirohito is an alien employed by a regional operating headquarter of a multinational corporation. During 2010, Hirohito earned a total compensation income of P800,000, exclusive of P200,000 professional fees on business advisory services rendered to a Japanese client in the Philippines. Compute Hirohito’s total income tax. P170,000 P 0 P150,000 P250,000 The payroll of an employee reflected the following data for the taxable year 201A: Basic Salary (P 20,000 x 12 months) P 240,000 13th Month pay 20,000 Christmas bonus 10,000 Holiday incentive to Boracay 25,000 The gross compensation income of the employee for the taxable year 201A amounts to: P 260,000 P 285,000 P 265,000 P 240,000
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