Question 15

A domestic corporation provided the following data for 2020:

Gross profit from sales P3,000,000

Business expenses 1,800,000

Dividend income from domestic corporation 100,000

Dividend income from a resident corporation 50,000

Dividend income from a non-resident corporation 40,000

m
er as
co
Capital gain on sale of land in the Philippines (SP-P2M; FMV-P1.8M, Cost-P1.5M) 500,000

eH w
o.
Capital gain on sale of land in China (SP – P1.5M; FMV – P1.8M, Cost – P1.3M) 200,000
rs e
ou urc
Capital gain on shares of domestic corporation (direct sale to buyer) @par value
120,000
P100,000
o
aC s

Gain on sale of shares of a domestic corporation thru a local stock exchange (SP-
vi y re

50,000
P200,000; Cost P150,000) @par value P150,000

Interest income from

ed d
ar stu

 Notes receivable 20,000

is

 Bank deposits (peso accounts) 30,000

Th

 Bank deposits (foreign currencies) 25,000

sh

 Treasury bills 10,000

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 For the year 20x9, a domestic corporation declared and paid dividends to its shareholders as follows:

To A, a resident citizen P100,000

To B, a non-resident citizen 100,000

To C, a resident alien 100,000

To D, a non-resident alien engaged in trade in the Philippines 100,000

To E, a non-resident alien not engaged in trade in the Philippines 100,000

m
er as
To F, a domestic corporation 100,000

co
eH w
To G, a resident foreign corporation 100,000

o.
rs e
ou urc
To H, a non-resident foreign corporation (without tax sparing) 100,000
o
aC s

The total final taxes on passive income for the year 2020 is
vi y re

Group of answer choices

A. P17,000
ed d

B. P13,000
ar stu

C. P11,750
D. P9,875
is

Question 16
Th

Mr. X has the following data on his passive income earned during 2019:

Philippines Abroad
sh

Interest income from long term peso bank deposits P45,000 P25,000

Interest income from long term FCDU deposits 50,000 60,000

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 Royalties from books 20,000 30,000

Royalties from computer programs 20,000 40,000

Winnings from an electronic raffle during Smart Communication’s

50th anniversary (chosen randomly by the network using smart 10,000 -
subscribers sim card numbers)

Dividend income from a domestic corporation 27,000 13,000

Dividend income from a foreign corporation 33,000 22,000

m
er as
co
How much is the final withholding tax if the taxpayer is a resident alien?

eH w
Group of answer choices

o.
A. P18,200 rs e
ou urc
B. P12,450
C. P14,450
D. P13,450
o
aC s
vi y re

Question 17

Mr. X has the following data on his passive income earned during 2019:
ed d

Philippines Abroad
ar stu

Interest income from long term peso bank deposits P45,000 P25,000
is

Interest income from long term FCDU deposits 50,000 60,000

Th

Royalties from books 20,000 30,000

sh

Royalties from computer programs 20,000 40,000

Winnings from an electronic raffle during Smart Communication’s 10,000 -

50th anniversary (chosen randomly by the network using smart

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 subscribers sim card numbers)

Dividend income from a domestic corporation 27,000 13,000

Dividend income from a foreign corporation 33,000 22,000

How much is the final withholding tax if the taxpayer is a non-resident alien engaged in trade or
business?

Group of answer choices

A. P13,400

m
B. P13,750

er as
C. P9,700

co
D. P13,450

eH w
o.
rs e
ou urc
o
aC s
vi y re
ed d
ar stu
is
Th
sh

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