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Gross business income, Philippines Gross business income, Singapore Business expenses, Philippines Business expenses, Singapore Interest income - BPI Philippines Interest income - BPI Singapore Dividend income from a domestic Corp. Dividend income - resident foreign Corp. Dividend income - non-resident foreign Corp. Interest income received from a depository FCDU Philippine lotto winnings Philippine Charity sweepstakes winnings Singapore sweepstakes winnings Other winnings - Philippines Prizes - Robinsons Manila Prizes - SM manila Prizes - Singapore Interest income from long-term deposit Interest income from long-term investment (pre-terminated on 2nd year) 4,000,000 3,000,000 1,500,000 1,750,000 90,000 70,000 150,000 75,000 125,000 50,000 10,000 400,000 250,000 50,000 9,000 20,000 30,000 10,000 5,000

Gross business income, Philippines Gross business income, Singapore Business expenses, Philippines Business expenses, Singapore Interest income - BPI Philippines Interest income - BPI Singapore Dividend income from a domestic Corp. Dividend income - resident foreign Corp. Dividend income - non-resident foreign Corp. Interest income received from a depository FCDU Philippine lotto winnings Philippine Charity sweepstakes winnings Singapore sweepstakes winnings Other winnings - Philippines Prizes - Robinsons Manila Prizes - SM manila Prizes - Singapore Interest income from long-term deposit Interest income from long-term investment (pre-terminated on 2nd year) 4,000,000 3,000,000 1,500,000 1,750,000 90,000 70,000 150,000 75,000 125,000 50,000 10,000 400,000 250,000 50,000 9,000 20,000 30,000 10,000 5,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Determine the amount of basic tax if the person is classified as resident citizen

2. Determine the amount of basic tax if the person is classified as non-resident citizen

3. Determine the amount of final tax if the person is classified as resident citizen

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

5. Determine the amount of final tax if the person is classified as non-resident alien engaged in trade and business

Share dividend from San Miguel Corp. 7,500 Interest income from loans receivable 10,000 Royalty income from franchise 100,000 Royalty income from books 50,000
Transcribed Image Text:Share dividend from San Miguel Corp. 7,500 Interest income from loans receivable 10,000 Royalty income from franchise 100,000 Royalty income from books 50,000
Gross business income, Philippines 4,000,000 Gross business income, Singapore 3,000,000 Business expenses, Philippines 1,500,000 Business expenses, Singapore 1,750,000 Interest income - BPI Philippines 90,000 Interest income - BPI Singapore 70,000 Dividend income from a domestic Corp. 150,000 Dividend income - resident foreign Corp. 75,000 Dividend income - non-resident foreign Corp. 125,000 Interest income received from a depository FCDU 50,000 Philippine lotto winnings 10,000 Philippine Charity sweepstakes winnings 400,000 Singapore sweepstakes winnings 250,000 Other winnings - Philippines 50,000 Prizes - Robinsons Manila Prizes - SM manila 9,000 20,000 Prizes - Singapore 30,000 Interest income from long-term deposit 10,000 Interest income from long-term investment (pre-terminated on 2nd year) 5,000
Transcribed Image Text:Gross business income, Philippines 4,000,000 Gross business income, Singapore 3,000,000 Business expenses, Philippines 1,500,000 Business expenses, Singapore 1,750,000 Interest income - BPI Philippines 90,000 Interest income - BPI Singapore 70,000 Dividend income from a domestic Corp. 150,000 Dividend income - resident foreign Corp. 75,000 Dividend income - non-resident foreign Corp. 125,000 Interest income received from a depository FCDU 50,000 Philippine lotto winnings 10,000 Philippine Charity sweepstakes winnings 400,000 Singapore sweepstakes winnings 250,000 Other winnings - Philippines 50,000 Prizes - Robinsons Manila Prizes - SM manila 9,000 20,000 Prizes - Singapore 30,000 Interest income from long-term deposit 10,000 Interest income from long-term investment (pre-terminated on 2nd year) 5,000
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