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  • 6.4. Comprehensive Problems - Final Tax 1

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    Elle Vernez
    19 vizualizări10 pagini
    The document shows the final tax withholdings for different types of income received by various taxpayers including resident/non-resident citizens, resident/non-resident aliens, domestic/foreign corporations. It lists various income types like interest, royalties, prizes, dividends, and applicable tax rates. For each taxpayer classification, it calculates the final tax withheld based on the tax rates for each income type received.

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    The document shows the final tax withholdings for different types of income received by various taxpayers including resident/non-resident citizens, resident/non-resident aliens, domestic/foreign corporations. It lists various income types like interest, royalties, prizes, dividends, and applicable tax rates. For each taxpayer classification, it calculates the final tax withheld based on the tax rates for each income type received.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PPTX, PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    19 vizualizări10 pagini

    6.4. Comprehensive Problems - Final Tax 1

    Încărcat de

    Elle Vernez
    The document shows the final tax withholdings for different types of income received by various taxpayers including resident/non-resident citizens, resident/non-resident aliens, domestic/foreign corporations. It lists various income types like interest, royalties, prizes, dividends, and applicable tax rates. For each taxpayer classification, it calculates the final tax withheld based on the tax rates for each income type received.

    Drepturi de autor:

    © All Rights Reserved
    Descărcați ca PPTX, PDF, TXT sau citiți online pe Scribd
    Indicator pentru conținut neadecvat
    din 10

    Solution to

    Comprehensive
    Problem
    (Final Withholding Tax)
    Resident Citizen
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 20% 6,000
    Royalties from books 20,000 10% 2,000
    Prizes from Panagbenga Festival 20,000 exempt
    Interest income from time deposits (3 years) 65,000 20% 13,000
    Royalties from computer programs 20,000 20% 4,000
    Winnings from an electronic raffle (randomly chosen) 10,000 20% 2,000
    Interest income from peso bank deposits, MBTC 45,000 20% 9,000
    Winnings from sweepstakes 80,000 20% 16,000
    Dividend income from domestic corporation 27,000 10% 2,700
    Interest income from long term deposits (6 years maturity) 55,000 5% 2,750
    Dividend income from a foreign corporation 33,000 basic
    Interest income from long term FCDU deposits 50,000 15% 7,500
    Prizes from Bingo Bonanza 10,000 basic
    Interest income from long term investment (5 years) 40,000 exempt
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 10% 100,000
    Non-Resident Citizen
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 20% 6,000
    Royalties from books 20,000 10% 2,000
    Prizes from Panagbenga Festival 20,000 exempt
    Interest income from time deposits (3 years) 65,000 20% 13,000
    Royalties from computer programs 20,000 20% 4,000
    Winnings from an electronic raffle (randomly chosen) 10,000 20% 2,000
    Interest income from peso bank deposits, MBTC 45,000 20% 9,000
    Winnings from sweepstakes 80,000 20% 16,000
    Dividend income from domestic corporation 27,000 10% 2,700
    Interest income from long term deposits (6 years maturity) 55,000 5% 2,750
    Dividend income from a foreign corporation 33,000 basic
    Interest income from long term FCDU deposits 50,000 exempt
    Prizes from Bingo Bonanza 10,000 basic
    Interest income from long term investment (5 years) 40,000 exempt
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 10% 100,000
    Resident Alien
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 20% 6,000
    Royalties from books 20,000 10% 2,000
    Prizes from Panagbenga Festival 20,000 exempt
    Interest income from time deposits (3 years) 65,000 20% 13,000
    Royalties from computer programs 20,000 20% 4,000
    Winnings from an electronic raffle (randomly chosen) 10,000 20% 2,000
    Interest income from peso bank deposits, MBTC 45,000 20% 9,000
    Winnings from sweepstakes 80,000 20% 16,000
    Dividend income from domestic corporation 27,000 10% 2,700
    Interest income from long term deposits (6 years maturity) 55,000 5% 2,750
    Dividend income from a foreign corporation 33,000 basic
    Interest income from long term FCDU deposits 50,000 15% 7,500
    Prizes from Bingo Bonanza 10,000 basic
    Interest income from long term investment (5 years) 40,000 exempt
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 10% 100,000
    Non-Resident Alien Engaged in Trade Or Business
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 20% 6,000
    Royalties from books 20,000 10% 2,000
    Prizes from Panagbenga Festival 20,000 exempt
    Interest income from time deposits (3 years) 65,000 20% 13,000
    Royalties from computer programs 20,000 20% 4,000
    Winnings from an electronic raffle (randomly chosen) 10,000 20% 2,000
    Interest income from peso bank deposits, MBTC 45,000 20% 9,000
    Winnings from sweepstakes 80,000 20% 16,000
    Dividend income from domestic corporation 27,000 20% 5,400
    Interest income from long term deposits (6 years maturity) 55,000 5% 2,750
    Dividend income from a foreign corporation 33,000 basic
    Interest income from long term FCDU deposits 50,000 exempt
    Prizes from Bingo Bonanza 10,000 basic
    Interest income from long term investment (5 years) 40,000 exempt
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 10% 100,000
    Non-Resident Alien Not Engaged in Trade Or Business
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 25% 7,500
    Royalties from books 20,000 25% 5,000
    Prizes from Panagbenga Festival 20,000 exempt
    Interest income from time deposits (3 years) 65,000 25% 16,250
    Royalties from computer programs 20,000 25% 5,000
    Winnings from an electronic raffle (randomly chosen) 10,000 25% 2,500
    Interest income from peso bank deposits, MBTC 45,000 25% 11,250
    Winnings from sweepstakes 80,000 25% 20,000
    Dividend income from domestic corporation 27,000 25% 6,750
    Interest income from long term deposits (6 years maturity) 55,000 25% 13,750
    Dividend income from a foreign corporation 33,000 25% 8,250
    Interest income from long term FCDU deposits 50,000 exempt
    Prizes from Bingo Bonanza 10,000 25% 2,500
    Interest income from long term investment (5 years) 40,000 exempt
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 25% 100,000
    Domestic Corporation
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 20% 6,000
    Royalties from books 20,000 20% 4,000
    Prizes from Panagbenga Festival 20,000 basic
    Interest income from time deposits (3 years) 65,000 20% 13,000
    Royalties from computer programs 20,000 20% 4,000
    Winnings from an electronic raffle (randomly chosen) 10,000 basic
    Interest income from peso bank deposits, MBTC 45,000 20% 9,000
    Winnings from sweepstakes 80,000 basic
    Dividend income from domestic corporation 27,000 exempt
    Interest income from long term deposits (6 years maturity) 55,000 20% 11,000
    Dividend income from a foreign corporation 33,000 basic
    Interest income from long term FCDU deposits 50,000 15% 7,500
    Prizes from Bingo Bonanza 10,000 basic
    Interest income from long term investment (5 years) 40,000 20%
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 N/A
    Resident Foreign Corporation
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 20% 6,000
    Royalties from books 20,000 20% 4,000
    Prizes from Panagbenga Festival 20,000 basic
    Interest income from time deposits (3 years) 65,000 20% 13,000
    Royalties from computer programs 20,000 20% 4,000
    Winnings from an electronic raffle (randomly chosen) 10,000 basic
    Interest income from peso bank deposits, MBTC 45,000 20% 9,000
    Winnings from sweepstakes 80,000 basic
    Dividend income from domestic corporation 27,000 exempt
    Interest income from long term deposits (6 years maturity) 55,000 20% 11,000
    Dividend income from a foreign corporation 33,000 without
    Interest income from long term FCDU deposits 50,000 7.5% 7,500
    Prizes from Bingo Bonanza 10,000 basic
    Interest income from long term investment (5 years) 40,000 20% 8,000
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 N/A
    Non.-Resident Foreign Corporation
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 30% 9,000
    Royalties from books 20,000 30% 6,000
    Prizes from Panagbenga Festival 20,000 30% 6,000
    Interest income from time deposits (3 years) 65,000 30% 19,500
    Royalties from computer programs 20,000 30% 6,000
    Winnings from an electronic raffle (randomly chosen) 10,000 30% 3,000
    Interest income from peso bank deposits, MBTC 45,000 30% 13,500
    Winnings from sweepstakes 80,000 30% 24,000
    Dividend income from domestic corporation 27,000 30% 8,100
    Interest income from long term deposits (6 years maturity) 55,000 30% 16,500
    Dividend income from a foreign corporation 33,000 without
    Interest income from long term FCDU deposits 50,000 exempt
    Prizes from Bingo Bonanza 10,000 30% 3,000
    Interest income from long term investment (5 years) 40,000 30% 12,000
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 N/A
    Non.-Resident Foreign Corporation (with tax sparing rule)
    ITEMS Amount Tax Rate Final Tax
    Interest income from dollar deposits, BDO 30,000 30%
    Royalties from books 20,000 30%
    Prizes from Panagbenga Festival 20,000 30%
    Interest income from time deposits (3 years) 65,000 30%
    Royalties from computer programs 20,000 30%
    Winnings from an electronic raffle (randomly chosen) 10,000 30%
    Interest income from peso bank deposits, MBTC 45,000 30%
    Winnings from sweepstakes 80,000 30%
    Dividend income from domestic corporation 27,000 15%
    Interest income from long term deposits (6 years maturity) 55,000 30%
    Dividend income from a foreign corporation 33,000 without
    Interest income from long term FCDU deposits 50,000 exempt
    Prizes from Bingo Bonanza 10,000 30%
    Interest income from long term investment (5 years) 40,000 30%
    Informer’s Reward (10% of amount or P 1M, w/c ever is lower 1,000,000 N/A

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