Han Geu Ru, a resident alien, made the following donations during theyear: *DONATIONTotal net giftsDonor's tax paidPHILIPPINESPheSOUTH KOREA300,000 Phe 200,000 Phe 1,000,0005,000JAPANТOTAL500,000 Phe15,00021,00041,000Compute the donor's tax payable of Han Geu Ru based on the above donations.PhP 11,500PhP 26,500O PhP 45,000O other:

Donors tax refers to the form of tax which is levied on the donations or gifts and it is imposed on…

Han Geu Ru, a resident alien, made the following donations during the year: * SOUTH KOREA DONATION Total net gifts Donor's tax paid PHILIPPINES Phe 500,000Phe 15,000 JAPAN 300,000 Phe 200,000 Phe 1,000,000 21,000 ТOTAL 5,000 41,000 Compute the donor's tax payable of Han Geu Ru based on the above donations. O PhP 11,500

Han Geu Ru, a resident alien, made the following donations during the year: * SOUTH KOREA DONATION Total net gifts Donor's tax paid PHILIPPINES Phe 500,000Phe 15,000 JAPAN 300,000 Phe 200,000 Phe 1,000,000 21,000 ТOTAL 5,000 41,000 Compute the donor's tax payable of Han Geu Ru based on the above donations. O PhP 11,500

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

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?
Nicanor made the following donations to his children in 2021: To Jose – Agricultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Boni – New car worth Php 5 Million made on March 22, 2021 To Goyo – Cash in the amount of Php 5 Million made on April 19, 2021 1. How much is the donor’s tax to be paid on January 31, 2021? 2. How much is the donor’s tax to be paid on March 22, 2021? 3. How much is the donor’s tax to be paid on April 19, 2021?
Nicanor made the following donations to his children in 2021: To Jose – Agricultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Boni – New car worth Php 5 Million made on March 22, 2021 To Goyo – Cash in the amount of Php 5 Million made on April 19, 2021 How much is the donor’s tax to be paid on March 22, 2021?
Determine the taxable income for the year. (PHILIPPINES)
Sam Smith is a citizen and bona fide resident of Great Britain (United Kingdom). During the current year, Sam received the following income: • Compensation of $30 million from performing concerts in the United States. › Cash dividends of $10,000 from a French corporation's stock. ▸ Interest of $6,000 on a U.S. corporation bond. ▸ Interest of $2,000 on a loan made to a U.S. citizen residing in Australia. • Gain of $80,000 on the sale of stock in a U.S. corporation. Determine the source (U.S. or foreign) of each item of income Sam received. Income Income from concerts Dividend from French corporation Interest on a U.S. corporation bond Interest of $2,000 on a loan made to a U.S. citizen residing in Australia Gain of $80,000 on the sale of stock in a U.S. corporation Source
Marco made the following donations to his children in 2021: To Juan - Argicultural land in Nueva Ecija (Zonal value Php 5 Million; Assessed value Php 4 Million) made on January 31, 2021. To Clyde - New car worth 5 Million made on March 22, 2021. To Sevi - Cash in the amount of Php 5 Million made on April 19, 2021. How much is the donor’s tax to be paid on March 22, 2021?
Income Taxation in Philippines: Answer numbers 1, 2, and 3
Mr. Wakana, a resident Japanese decedent, deed with the following properties: A house and lot in Japan P2,000,000 Bank deposit in the Philippines 600,000 A car in the Philippines 1,000,000 A residential lot in the USA 1,500,000 Compute the amount to be included in gross estate.
Using the same data in the previous question, what is the income tax due if Sandbox is a resident foreign corporation? P50,000 P40,000 P87,500 P70,000