A non-resident alien not engaged in trade or business derived the following income from the Philippines: Interest income on his long-term bank deposit here in the Philippines, P50,000 Interest income on his bank deposit under the EFCDS ($1 = P50), $500 How much is the income tax due?
A non-resident alien not engaged in trade or business derived the following income from the Philippines: Interest income on his long-term bank deposit here in the Philippines, P50,000 Interest income on his bank deposit under the EFCDS ($1 = P50), $500 How much is the income tax due?
Chapter9: Taxation Of International Transactions
Section: Chapter Questions
Problem 7DQ
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Question
A non-resident alien not engaged in trade or business derived the following income from the Philippines:
Interest income on his long-term bank deposit here in the Philippines, P50,000
Interest income on his bank deposit under the EFCDS ($1 = P50), $500
How much is the income tax due?
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