Gross income: Philippines - P700,000 Foreign - 400,000 Expenses: Philippines - 380,000 Foreign - 220,000 Compute for the income tax due assuming the individual tax payer is a non- resident alien not engaged in trade/business. O P55,000 O P17,500 O P105,000 O P175,000 O Tax exempt

Gross income: Philippines - P700,000 Foreign - 400,000 Expenses: Philippines - 380,000 Foreign - 220,000 Compute for the income tax due assuming the individual tax payer is a non- resident alien not engaged in trade/business. O P55,000 O P17,500 O P105,000 O P175,000 O Tax exempt

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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Question

Gross income:
Philippines - P700,000
Foreign - 400,000
Expenses:
Philippines - 380,000
Foreign - 220,000
Compute for the income tax due assuming the individual tax payer is a non-
resident alien not engaged in trade/business.
O P55,000
O P17,500
O P105,000
O P175,000
О Тах еxempt

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