1. A taxpayer received during the taxable year the following…

Question Answered step-by-step 1. A taxpayer received during the taxable year the following… 1. A taxpayer received during the taxable year the following passive income derived from within the Philippines.Interest on bank deposit under FCDU (net), P170,000Royalty on a software application (gross), P95,000Dividend income from domestic corporation (gross), 150,000If the taxpayer is a non-resident alien engaged in business, what is the amount of Final Tax from the above passive Income? 2. X, a resident citizen, is engaged in business. In Taxable Year 2023, X declared the following: Sales, P1,000,000; Cost of sales and expenses, P600,000Lotto winnings, USA, P20,000.Also, X claimed in his income tax return a personal exemption of 50,000, as head of the family. How much is the basic income tax due of X for the Taxable Year 2023? 3. Diomela earned the following items of income for the calendar year ending 2021:Interest income, debtor resides in Russia, payment made in the Philippines, P530,000;Interest income, debtor resides in the Philippines, payment made in Ukraine, P300,000;Gain from sale of real property, real property situated in Bangladesh, P450,000;Gain from sale of personal property, sale made in UK, property is in the Philippines, P290,000;Gain from sale of shares of stock of a domestic corporation, residence of buyer is in Taiwan, sale made in Japan, P225,000;How much of the foregoing is income derived from sources within?  Law Social Science Tax law TAX 51 Share QuestionEmailCopy link Comments (0)