Dividend received from domestic corporation by a NRFC no

sparing tax credit

Dividend received from domestic corporation by a NRFC with

sparing tax credit

B. A domestic corporation has the following data for the fiscal year starting June 1, 2008 and ending May 31,
2009:
Gross Income, Philippines P5,000,000
Gross Income, USA 10,000,000
Deductions, Philippines 2,000,000
Deductions, USA 4,000,000
Payments, first 3 quarters 1,000,000

How much is the tax payable for the fiscal year ending May 31, 2009?

C. YAMERO Corporation was created in accordance with Philippine laws. During the calendar year 2016, it
has the following data on income and expenses:
Gross Income, Phil (Gross sales P15,000,000) P10,000,000
Business Expenses, Phil 2,000,000
Gross Income, USA (Gross sales P8,000,000) 5,000,000
Business Expenses, USA 1,500,000
Interest Income, BDO-Manila, Phil 300,000
Interest Income from long term deposit, Phil 80,000
Dividend from domestic corporation 150,000
Interest Income from depository bank under EFCDS 120,000
Interest Income, JP Morgan-Chase bank, USA 100,000
Prizes, Manila 200,000
Interest Income from loans, Phil 300,000
Rent Income from equipment, Phil, gross applicable withholding tax 1,000,000
Payments, first three quarters 500,000
Compute:
A. How much is the Philippine Income tax payable?
B. How much is the total final withholding tax?

C. How much is the Philippine income tax payable using OSD?

D. Assuming the above corporation is a foreign corporation engaged in trade or business in the Philippines, how
much is the Philippine income tax payable?