Mark Remus has the following data on his passive income the current year: Philippines Abroad Interest income from long-term peso bank deposits P 45,000 P 25,000 Interest income from long-term Foreign Currency Deposit Unit (FCDU) deposits P 50,000 P 60,000 Royalties from books P 20,000 P 30,000 Royalties from computer programs P 20,000 P 40,000 Winnings from an electronic raffle during Smart Communication’s 50th Anniversary (chosen randomly by the network using Smart subscribers’ sim card numbers) P 10,000 P - Dividend income from a domestic corporation P 27,000 P 13,000 Dividend income from a foreign corporation P 33,000 P 22,000 Requirements: 1. Assuming that Mark is a resident citizen, compute for his total final income taxes from his passive income. 2. Assuming that Mark is a resident alien, compute for his total final income taxes from his passive income. 3. Assuming that Mark is a non-resident citizen, compute for his total final income taxes from his passive income. 4. Assuming that Mark is a non-resident alien engaged in trade or business, compute for his total final income taxes from his passive income. 5. Assuming that Mark is a non-resident citizen alien not engaged in trade or business, compute for his total final income taxes from his passive income.
Mark Remus has the following data on his passive income the current year:
Philippines Abroad
Interest income from long-term peso bank deposits P 45,000 P 25,000
Interest income from long-term Foreign Currency Deposit Unit (FCDU) deposits P 50,000 P 60,000
Royalties from books P 20,000 P 30,000
Royalties from computer programs P 20,000 P 40,000
Winnings from an electronic raffle during Smart Communication’s 50th Anniversary
(chosen randomly by the network using Smart subscribers’ sim card numbers) P 10,000 P -
Dividend income from a domestic corporation P 27,000 P 13,000
Dividend income from a foreign corporation P 33,000 P 22,000
Requirements:
1. Assuming that Mark is a resident citizen, compute for his total final income taxes from his passive income.
2. Assuming that Mark is a resident alien, compute for his total final income taxes from his passive income.
3. Assuming that Mark is a non-resident citizen, compute for his total final income taxes from his passive
income.
4. Assuming that Mark is a non-resident alien engaged in trade or business, compute for his total final income
taxes from his passive income.
5. Assuming that Mark is a non-resident citizen alien not engaged in trade or business, compute for his total
final income taxes from his passive income.
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