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Non-Resident Alien

Non-Resident Alien

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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Answer the following: Refer to the table provided

(A) Income Tax Rates Effective Jan. 1, 2018 until Dec. 31, 2022: RANGE OF TAXABLE TAX DUE = a + (b x c) INCOME BASIC ADDITIONAL OF EXCESS OVER NOT OVER AMOUNT RATE OVER (a) (b) (c) 250,000.00 400,000.00 800,000.00 2,000,000.00 8,000,000.00 250,000.00 20% 400,000.00 800,000.00 250,000.00 400,000.00 30,000.00 25% 130,000.00 490,000.00 2,410,000.00 30% 2,000,000.00 8,000,000.00 800,000.00 2,000,000.00 8,000,000.00 32% 35%
Transcribed Image Text:(A) Income Tax Rates Effective Jan. 1, 2018 until Dec. 31, 2022: RANGE OF TAXABLE TAX DUE = a + (b x c) INCOME BASIC ADDITIONAL OF EXCESS OVER NOT OVER AMOUNT RATE OVER (a) (b) (c) 250,000.00 400,000.00 800,000.00 2,000,000.00 8,000,000.00 250,000.00 20% 400,000.00 800,000.00 250,000.00 400,000.00 30,000.00 25% 130,000.00 490,000.00 2,410,000.00 30% 2,000,000.00 8,000,000.00 800,000.00 2,000,000.00 8,000,000.00 32% 35%
Problem 8A do Non-Resident Alien Ms. Camellia is an alien employed by Cadence Corp., a regional headquarter (RHQ) of a multinational company. She received compensation income of P2,000,000 in 2018, including P150,000 13th month pay and other benefits. Compute for Ms. Camellia's income tax due for the year.
Transcribed Image Text:Problem 8A do Non-Resident Alien Ms. Camellia is an alien employed by Cadence Corp., a regional headquarter (RHQ) of a multinational company. She received compensation income of P2,000,000 in 2018, including P150,000 13th month pay and other benefits. Compute for Ms. Camellia's income tax due for the year.
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