Which of the following statement is wrong with respect to deductible expenses incurred by an individual taxpayer?
9. Which of the following statement is wrong with respect to deductible expenses incurred by an individual taxpayer?
a. A resident citizen of the Philippines who is earning business income abroad, aside from his income in the Philippines, is entitled to claim the 40% optional standard deduction as a deduction from his gross income within and without the Philippines.
b. A nonresident citizen of the Philippines who is earning income as an overseas Filipino worker abroad is entitled to claim the expenses incurred therein as a deduction from total gross income.
c. A resident citizen of the Philippines who is earning business income abroad is entitled to claim the expenses incurred abroad as a deduction from his gross income.
d. A mixed income earner is entitled to claim only the 40% optional standard deduction as a deduction from the business and/or professional income, to the exclusion of the compensation income.
Step by step
Solved in 2 steps