John Buco Colegio De Jimenez, Inc.

(Formerly Adventist Technological Institute)

Dicoloc, Jimenez Misamis Occidental
7204 Philippines

Taxation (Income Taxation)

Semi-Final Assignment:
Instruction: Evaluate and analyse the statements and do what is asked. Use 1 whole sheet yellow
paper to show your solutions.

1. A resident alien has a net business net income of P3,000,000 in the Philippines and
P2,500,000 from abroad.
a. Compute the total taxable income.
b. Compute the total income tax due.

2. A resident citizen with has a compensation income of P3,500,000 within the Philippines
and P350,000 from abroad.
a. Compute the total taxable income.
b. Compute the total income tax due.

3. A corporation has a net income of P2,550,000 in the Philippines and P955,000 abroad.
a. Compute the income tax due, assuming the corporation is a domestic corporation.
b. Compute the income tax due, assuming the corporation is a RFC.

Note: Refer your answers to the “Introduction to Regular Income Tax” topic.
Submission: April 8, 2024