Ben Marino, a seaman, opened a joint bank account, under the expanded foreign currency deposit system, with his wife. A month after, the bank deposit earned interest in the amount of USD1,000 (foreign exchange rate is P50 for every USD1). The final tax due on the interest income is

Ben Marino, a seaman, opened a joint bank account, under the expanded foreign currency deposit system, with his wife. A month after, the bank deposit earned interest in the amount of USD1,000 (foreign exchange rate is P50 for every USD1). The final tax due on the interest income is

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 79P

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