Reference no: EM132976868
The following are the Income items of Dr. Wednesday:
Business Income
Philippines: P200,000 Abroad: P100,000
Professional Fees
Philippines: P100,000 Abroad: P50,000
Compensation Income
Philippines: P400,000 Abroad: ---
Rent Income
Philippines: P300,000 Abroad: P200,000
Interest Income
Philippines:P30,000 Abroad: P40,000
Problem 1: Compute the total income subject Philippine income tax, assuming that Dr. Wednesday is a resident citizen. (If decimal, round off to 4 decimal places)
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