11. Jacques is an alien assigned in the Philippines to manage the regional area headquarters of Deli France, a multinational company Juan is Jacques counterpart in the said office and receives the same salary as Jacques. Juan's salary for the year 2022 is:   Group of answer choices tax at 10% on gross income tax at 15% on gross income tax at 0% - 35% on taxable income exempted from tax like Jacques

Q: A law is passed requiring all Filipino income earners to pay an income tax of 80% of their gross…

A: The policy of taxation in the Philippines is governed by the Constitution of the Philippines and…

Q: In 2021, Henri, a U.S. citizen and calendar year taxpayer, reports $24,600 of income from France,…

A: Given that France tax = $24,600 x 10% = 2,460 Italy tax = 44,400 x 40% = 17,760 Total creditable…

Q: Taxpayer Q has net taxable income of $30,000 from Country Y which imposes a 40 percent income tax.…

A: Foreign tax credit is a refundable tax credit that can be availed by individuals working in foreign…

Q: The amount of foreign tax withheld on foreign source income that a taxpayer can utilize in the…

A: Foreign tax credit: Foreign tax credit can be defined as the credit provided by the income tax…

Q: 1. :An employer in the U.S. Virgin Islands, employs two individuals, whose taxable earnings to date…

A: Federal Unemployment Taxes (FUTA) Federal unemployment taxes which are provided for the benefit for…

Q: US Tax System 1.) Vincent  has income from taxable wages totaling $150,000.  How much Social…

A: Social security tax (SST) is a sort of payroll tax which has to be withheld from the salary of the…

Q: Paul, a foreign individual, has been seconded to work in Singapore for a period of 600 days. His…

A: Tax implication for Foreigners in Singapore Foreign individual who are working Singapore may get the…

Q: Jorge and Anita, married taxpayers, earn $156,400 in taxable income and $41,600 in interest from an…

A: Key Points: 1. Non taxable interest- State, municipal, US possession bond interest . Interest from…

Q: tan a resident citizen, won P 2,000,000 in a raffle draw held in Singapore. The tax on the above…

A: The tax on prizes and winnings is calculated using a flat rate as specified by the tax laws of…

Q: An employer in the U.S. Virgin Islands employs two individuals, whose taxable earnings to date…

A: FUTA refers to the Federal Unemployment Tax Act which states that every employer requires to pay 6%…

Q: Maia had a gross income of $91,084 in 2010 What was her net income in 2010? Use the income tax table…

A: Gross income is the total amount you earn and net income is your actual business profit after…

Q: Tax credit for income tax paid or incurred to a foreign country

A: A resident citizen may be subject to foreign taxes under two possible circumstances: (1) he has…

Q: Alex is an Australian resident for tax purposes. She currently works as a financial advisor in…

A: Calculation of Alex's assessable income are as follows.

Q: Mr. Jerico, a nonresident Filipino actor, shot his movie under Star Cinema, Inc. (domestic…

A: The taxability of an income is based on the residential status of the individual. The ordinary…

Q: a. $600 interest from a savings account at a Florida bank. b. $5,000 dividend from U.S. Flower…

A:

Q: the total surcharges (exclusive of interest) is

A: As per Philippians Law the surcharge excluding interest is 25% of tax due.

Q: How much was the taxable income assuming the taxpayer was a: a. non-resident citizen engaged in…

A: Taxable income is the income on which the tax amount is computed. There are certain deductions and…

Q: 1)Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from…

A: a). i). Federal Tax amount = $ 29465.50ii). Average tax rate = 19.64 % (approx)iii). Effective tax…

Q: INSTRUCTIONS:   Read carefully, analyze and understand the problem.   For your answers,  provide…

A: In the case of a resident taxpayer, all of his income will be taxable in India, regardless of…

Q: FFF is a Filipino CPA. She is an employee of XXX Corporation and owner of www Accounting Services.…

A: Calculation of Net income   Particular Amount Amount Gross compensation income  900,000…

Q: Stan a non-resident citizen not enganged in trade or business, won P 2,000,000 in a raffle draw held…

A: Winning from lottery in Singapore is not taxable as these winnings are considered as windfalls and…

Q: Assuming that the taxpayer is a resident citizen, the taxable income (subject to ordinary income…

A: Taxable incomes which are chargeable at the rates of the ordinary income taxes is the income only…

Q: 1:An employer in The U.S. Virgin Islands employs two individuals, whose taxable earnings to date…

A: Explanation1. Calculation for the U.S. Virgin IslandsStep 1: Calculate the total taxable earnings…

Q: Within without Business Income 400,000.00 200,000.00 Professional Fees 200,000.00 100,000.00 Rent…

A: a person who is not a citizen of Philippines  is recognised as alien. it is regardless of whether…

Q: 13-13 Foreign Income Exclusions. J worked in Canada from August 1, 2020, through September 30, 2021.…

A: As per the guidelines of the IRS, if an individual is a U.S. citizen but earned some foreign income…

Q: question  according to the statement below What are Lokman’s major financial concerns in his…

A: Introduction Taxation is the means by which a government or the taxing authority imposes or levies a…

Q: he executor of Niel, a Filipino citizen based in Canada, provided details of his properties in…

A: Answer: Niel is citizen of Philippines He has income from both Philippines and Canada Philippines…

Q: Under the 1987 Philippine Constitution To compute the income tax due, what are the 2 tax options of…

A: In the 1987 Philippine constitution, persons engaged in self-employment and professional practices…

Q: A resident and citizen of the Philippines who has the below income. Compute for the total income…

A: Taxable income refers to the income assessed by the tax authorities in order to subject the…

Q: 300,000 500,000 300,000

A: The final tax of income is given as,

Q: a) Explain, in three sentences or less, ‘cross-credit’ in relation to the foreign tax credit. Make…

A: ‘’Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q:  Walter Wentworth  Walter Wentworth lives in South Africa. He was on holiday in Australia for the…

A: As per the general provision in South Africa following class of person is liable to pay tax in South…

Q: 2. Assume that a resident citizen has the following taxable income from sources in the Philippines…

A: The question asked to compute the tax still due or payable after the tax credit.   According to the…

Q: Mary spent $21,500 for an executive development course at the Harvard Business School (including…

A: As an employee, you can claim your work-related training as a miscellaneous, itemized deduction,…

Q: Fred currently earns $10,100 per month. Fred has been offered the chance to transfer for three to…

A: As per IRS provisions, an individual who is earning income from salary or business in the domestic…

Q: 1: An employer in Delaware City, Delaware, employs two individuals, whose taxable earnings to date…

A: Since you have posted multiple questions , we will do the first question for you . To get the…

Q: 1. Determine the amount of final tax if the person is classified as non-resident citizen

A: Introduction An individual who primarily resides in one region or jurisdiction but has interests in…

Q: Richard has $30,000 of income from a country that imposes a 40-percent income tax and $30,000 of…

A: Net taxable income is to be multiplied with the tax rate to get the foreign tax credit. Formula:…

Q: Determine the tax payable or overpayment if:

A: Tax is the expense over the individual or the earning body to pay the portion of their income to the…