Determine whether the following income/proceeds received in 2021 istaxable. If applicable, determine the appropriate tax and tax rate.DIVIDEND INCOME:Basic or FinalТахable orExempt?Тах?1. Dividend income received by aresident citizen from domesticcorporations2. Dividend income received by aresident alien from domesticcorporations3. Dividend income received by aresident citizen from foreign.corporations4. Dividend income received by adomestic corporation from anotherdomestic corporation5. Dividend income received by adomestic corporation from a residentforeign corporation (assume the rationof gross income derived in thePhilippines for the past three (3) yearswas 70%)6. Dividend income received by aresident foreign corporation fromdomestic corporation7. Dividend income received by aresident foreign corporation fromanother resident foreign corporation.The ratio of income in the Philippinesover its world income for the last three(3) years was 40%

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1. Dividend income received by a resident citizen from domestic corporations 2. Dividend income received by a resident alien from domestic corporations B. Dividend income received by a resident citizon from foroian reian

1. Dividend income received by a resident citizen from domestic corporations 2. Dividend income received by a resident alien from domestic corporations B. Dividend income received by a resident citizon from foroian reian

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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