PROBLEM 27 An entrepreneur who is single had the following data in the current year 2019: Gross Business Income-Philippines P2,600,000 Gross Business Income-Australia 1,400,000 Cash Dividend Income from a domestic corporation 25,000 Collections of loans receivable from the Philippines. The payor is a non-resident alien - Principal 50,000 - Interest 2,500 Property Dividend Income from a non-resident foreign corp. 15,000 Rental Income received in Australia from a relative of a resident alien who is renting the property located in the Philippines 20,000 Cash dividend from a resident foreign corporation, 18,000 which had the following data for the last 3 years period before the year the dividend was declared: • Gross income - Philippines P3,000,000 • Gross income - Abroad 2,000,000 Compute the gross income if the taxpayer is a:
PROBLEM 27
An entrepreneur who is single had the following data in the current year 2019:
Gross Business Income-Philippines P2,600,000
Gross Business Income-Australia 1,400,000
Cash Dividend Income from a domestic corporation 25,000
Collections of loans receivable from the Philippines.
The payor is a non-resident alien - Principal 50,000
- Interest 2,500
Property Dividend Income from a non-resident foreign corp. 15,000
Rental Income received in Australia from a relative of a resident
alien who is renting the property located in the Philippines 20,000
Cash dividend from a resident foreign corporation, 18,000
which had the following data for the last 3 years period before
the year the dividend was declared:
• Gross income - Philippines P3,000,000
• Gross income - Abroad 2,000,000
Compute the gross income if the taxpayer is a:
a. Resident Citizen
b. Resident Alien
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