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How much is the income tax due of the said alien

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Reference no: EM132917593

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Q1. A non-resident alien derived interest income from his bank deposit here in the Philippines under the FCDU system of a domestic bank. The interest amounted to $500. How much is the income tax due of the said alien? ($1=Php50)

a. P1,875

b. P10,000

c. P0

d. P3,750

Q2. Which of the following royalties earned within the Philippines is not subject to 10% final withholding tax?

A. Royalties from literary works

b. Royalties from computer software

c. Royalties from books

d. Royalties from musical compositions

Q3. PCSO winnings not exceeding P10,000 is

a. Exempt from tax

b. Subject to capital gains tax

c. Subject to basic income tax

d. Subject to final withholding tax on passive income

Q4. The following taxpayers who received a dividend income from a domestic corporation will received net of 10% final withholding tax, except:

a. Non-resident alien engaged in trade or business

b. Resident alien

c. Non-resident citizen

d. Resident citizen

Q5. Which of the following transactions is subject to 6% capital gains tax:

a. Sale of condominium units by a real estate dealer

b. Sale of apartment houses

c. Sale of real property utilized for office use

d. Sale of vacant lot by an employee

Q6. Vincent sold his principal residence for P10,000,000 to his friend. Its FMV when he inherited it from his father was P12,000,000 although its present FMV is P15,000,000. He used ½ of the proceeds to buy a new principal residence within eighteen (18) months after the sale. Assume further that Vincent properly informed the BIR about the sale within the required period. It shall be:

a. Exempt from capital gains tax

b. Subject to P600,000 capital gains tax

c. Subject to P450,000 capital gains tax

d. Subject to P300,000 capital gains tax

Q7. Ana, not a minimum wage earner, works for Maharlika Corporation. She earned compensation income of P240,000 in 2018. Aside from her basic pay, she also earned P140,000 consisting of P80,000 overtime pay, P30,000 night shift differential, P15,000 hazard pay, and P15,000 holiday pay. She also contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received a 13th month pay of P11,000. Ana's income tax due for the taxable year should be:

a. Exempt

b. P26,000

c. P76,000

d. P80,000

Reference no: EM132917593

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