1. 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?
1. 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?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. 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?
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