Determine total final tax to be withheld by the partnership

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Problem 1: Mr. Seigfried, a resident citizen, received P100, 000 dividend income from Vodka, Inc., a domestic corporation. How much final tax must have been withheld by Vodka, Inc.?

Problem 2: Ms. Gina owns 40% of the capital and profits of Cebu Ventures, a business partnership engaged in the trade of tourist souvenirs. Cebu Ventures reported P200, 000 net income in 2014. Compute the total final tax to be withheld by the partnership on Gina's profit sharing.

a. P 0

b. P 8,000

c. P 10, 000

d. P 20, 000

 

Reference no: EM132726311

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