For items 6-10.A donor transferred the following properties on a certain day: Cash Land Car Philippines P 400,000 1,000,000 Abroad P. 3,000,000 6. Assuming the donor is a resident citizen, what is the amount of the donation inter-vivos? a. P1.000.000 b. P1,400,000 c. P4,000,000 d. P4,400.000 7 Assuming the donor is a resident alien, what is the amount of the donation inter-vivos? a P1.000,000 b P1400,000 C. P4,000,000 d. P4,400,000

For items 6-10.A donor transferred the following properties on a certain day: Cash Land Car Philippines P 400,000 1,000,000 Abroad P. 3,000,000 6. Assuming the donor is a resident citizen, what is the amount of the donation inter-vivos? a. P1.000.000 b. P1,400,000 c. P4,000,000 d. P4,400.000 7 Assuming the donor is a resident alien, what is the amount of the donation inter-vivos? a P1.000,000 b P1400,000 C. P4,000,000 d. P4,400,000

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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The executor of Niel, a Canadian in the Philippines, provided details of his properties in correction with the processing and payment of his estate tax: Philippines Canada Gross Estate 5,000,0000 10,000,000 Allowable deductions 5,000,000 5,000,000 Net estate 0 5,000,000 Estate tax paid Php 200,000 How much is the allowable Estate tax payable?
If an American purchases a ticket from Scandinavian Airlines, paying by a personal check, which of the following entries would be the result? Group of answer choices a. a credit in Norway's service account b. a debit in Norway's service account c. a credit in the U.S. unilateral transfers account d. a debit in the U.S. unilateral transfers account
Determine the taxable income for the year. (PHILIPPINES)
What is the correct answer to the following questions (1,2 and 3): 1. How much is the taxable income? 2. How much is the income tax due? 3. How much of Taylor's income is subject to final tax?
14) When examining revenue transactions, which of the following transactions is classified as an exchange transaction? A) When a homeowner pays property taxes B) When a university receives a federal grant that mandates a certain type of research activity C) When an aquatic center receives cash for a group swim D) When an employer deducts money for state tax withholding
Question 5) Canada, US, and China. Taxable income Net Canadian active business income manages by Canadian citizens who are in Ontario. They have activities in Net taxable capital gain royalty income interest expense Foreign Dividend salary expense Foreign tax paid for business Foreign tax paid for None business 250,000 $ 50,000 $ 15,000 $ 5,000 $ 2,000 $ 5,000 $ 75,000 $ 8,000 $ 12,000 $ How much they have to pay for Federal tax? Canada salary 45,000 $ China 5,000 $ US 25,000 $ revenue 150,000 $ 40,000 $ 60,000 $
If the decedent was a nonresident alien and his country exempts a Filipinocitizen from estate tax, how much of his assets would be subject to reciprocity? P1,000,000P800,000P600,000P350,000
A donor transferred the following properties on a certain day: Philippines Abroad Cash P 400,000 P 0 Land 1,000,000 Car 3,000,000 6. Assuming the donor is a resident citizen, what is the amount of the donation inter-vivos? a. P1,000,000 b. P1,400,000 c. P4,000,000 d. P4,400,000
Can you help me with this one, clear explanations so I can understand.
Income Taxation in Philippines: Answer numbers 1, 2, and 3
A non-resident citizen of the Philippines is allowing his China-resident neighbor to live in his home during the latter’s vacation in the Philippines. When the Chinese traveller arrived in the Philippines, the non-resident citizen of the Philippines called him and told him to give the rental payment to his cousin who lives in the Philippines and manages the said house. The Chinese man agreed and the non-resident citizen of the Philippines called his cousin to tell him that the payment he will be receiving would represent his bonus for managing the house. Is the rent payment received by the cousin taxable in the PH? If yes, specify what kind of tax is due and provide the relevant article from the PH Tax Code)
A3

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