Reference no: EM132824686

During the current year, a domestic dividends corporation declared and paid to its shareholders as follows:

To Louie, a resident citizen P100,000

To Floyd, a nonresident citizen 100,000

To Zeus, a resident alien 100,000

To JJ, a nonresident alien engaged in trade in the 100,000 Philippines

To Francis, a nonresident alien not engaged in trade 100,000 in the Philippines

To Chen, a domestic corporation 100,000

To a resident foreign corporation 100,000

To a nonresident foreign corporation (with tax sparing) 100,000

Problem 1: How much final tax shall be withheld by the corporation?

a) P80,000

b) P95,000

c) P85,000

d) P90,000