5. A, non-resident alien engaged in business in the Philippines, has the following incomewithin and without the Philippines for 2018:WithinAbroadthe PhilInterest income from depositorybank under expanded foreign currencydeposit system in Philippines70,00090,00050,00060,00040,000300,00040,00020,000Dividend incomeRoyalty income-othersBusiness income-net of expensesInterest income-bank deposítsPrizes / winnings250,00030,0009,000What is the total final income tax due of A?Based on number 5, what is the basic income tax due of A?

An individual or entity's income, which is the money generated or received through a variety of…

5. A, non-resident alien engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Interest income from depository bank under expanded foreign currency Within 70,000 the Phil deposit system in Philippines Dividend income Royalty income-others Business income-net of expenses Interest income-bank deposits Prizes/winnings What is the total final income tax due of A? 90,000 50,000 250,000 30,000 9,000 Abroad 60,000 40,000 300,000 40,000 20,000 Based on number 5, what is the basic income tax due of A?

5. A, non-resident alien engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Interest income from depository bank under expanded foreign currency Within 70,000 the Phil deposit system in Philippines Dividend income Royalty income-others Business income-net of expenses Interest income-bank deposits Prizes/winnings What is the total final income tax due of A? 90,000 50,000 250,000 30,000 9,000 Abroad 60,000 40,000 300,000 40,000 20,000 Based on number 5, what is the basic income tax due of A?

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

ChapterP3: Part 3: Exchange Rate Risk Management

Section: Chapter Questions

Problem 1Q

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Problem Solving 1.A, non-resident alien not engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Within the Abroad Salary and allowances Dividend income Royalty income Phil 100,000 90,000 50,000 150,000 60,000 40,000 What is the income tax due / payable of A?
A non-resident alien not engaged in trade or business derived the following income from the Philippines: Interest income on his long-term bank deposit here in the Philippines, P50,000Interest income on his bank deposit under the EFCDS ($1 = P50), $500How much is the income tax due?
1.A, non-resident alien not engaged in business in the Philippines, has the following income within and without the Philippines for 2018: Within the Phil Abroad Salary and allowances 100,000 150,000 Dividend income 90,000 60,000 Royalty income 50,000 40,000 What is the income tax due / payable of A?
D. Tax credit for income tax paid or incurred to a foreign country 1. Assume that a resident citizen has the following taxable income from sources in the Philippines and in Dallas, Texas, USA, for year 2022: Taxable income, Philippines Taxable income, Dallas, Texas, USA Income tax paid in Dallas, Texas, USA P 5,495,000 2,355,000 824,250 Required: Compute income tax still due or payable after tax credit.
If US residents receive income from their foreign investments, it is counted on the US balance of payment account as: O A. Debit in the U.S. capital account. O B. Debit in the U.S. financial account. C. Credit in the U.S. financial account. D. Credit in the U.S. current account.
Problem 1: A non-resident alien not engaged in trade or business derived P50,000 interest income from his long-term bank deposit here in the Philippines. How much is the income tax due of the said alien?
ABC Corporation has the following data for the 2019: Gross Income, Philippines P2,500,000 1,000,000 1,500,000 800,000 Expenses, Philippines Gross Income, Japan Expenses, Japan Interest on bank deposits, Philippines How much is the income tax due if ABC Corporation is a foreign corporation with no branch or office in the Philippines? O P756,000 OP664,000 O P660,000 OP450,000 20,000 K
Taxpayer is a VAT registered with the following data for August 1, 2021 vat not included: Sales, exports.... Sales, Philippines.. Sales, to the Government of the Philippines. Purchases from VAT suppliers: Of goods exported... Of goods sold in the Philippines. Of goods sold to the Government of the Philippines. How much is the VAT payable to the BIR? P 1,000,000 1,500,000 500,000 400,000 600,000 200,000
2-3. A, resident alien, has the following income within and without the Philippines for 2018: Within the Phil 300,000 90,000 50,000 200,000 Abroad Salary and allowances Dividend income Royalty income-others Business income-net of 150,000 60,000 40,000 300,000 expenses Interest deposits income-bank 30,000 40,000 What is the total final income tax due of A? What is the basic income tax due of A?
Gross income: Philippines - P700,000 Foreign - 400,000 Expenses: Philippines - 380,000 Foreign - 220,000 Compute for the income tax due assuming the individual tax payer is a non- resident alien not engaged in trade/business. O P55,000 O P17,500 O P105,000 O P175,000 О Тах еxempt
2. Assume that a resident citizen has the following taxable income from sources in the Philippines and in foreign countries for year 2022: Taxable income in the Philippines Taxable income in foreign countries - Ukraine Russia Washington, USA Entire taxable income Income tax paid or incurred to foreign countries - Ukraine Russia Washington, USA Total income tax paid or incurred to foreign countries P 10,500,000 1,125,000 1,575,000 1,800,000 P 15,000,000 P 393,750 551,250 630,000 P 1,575,000 Required: Compute income tax still due or payable after tax credit.
1. On November 1, 2020, an entity acquired on account goods from a foreign supplier at a cost of $3,000. The accounts payable are paid on January 30, 2021. On December 1, 2020, an entity sold on account goods to a foreign customer at a selling price of $2,500. The accounts receivable is collected on February 28, 2021. The entity is operating in Philippine economy wherein the functional currency is the Philippine Peso. The following exchange rates are provided Buying spot rate Selling spot rate November 1, 2020 P40 P42 December 1, 2020 39 40 December 31, 45 45.5 2020 January 30, 2021 45.5 46 February 28, 2021 46 46.5 What is the carrying amount of monetary asset on December 31, 2020?