How should the gains be taxed

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Reference no: EM132811554

Problem 1: Dividends received by a resident citizen from a non-resident corporation will be taxed as follows:

A. Final tax

B. Normal income tax

C. CGT

D. non-exempt

Problem 2: Mrs. Lim, a resident alien, bought 22 karat necklace for Php 100,00 in 2017. At the end of the year, she sold the necklace for 150,000. How should the gains be taxed?

A. Final tax

B. Normal income tax

C. CGT

D. Non-exempt

Problem 3: Who is entitled to avail of 8% optional income tax?

A. A VAT taxpayer

B. An employee

C. A percentage taxpayer

D. Non of these

Reference no: EM132811554

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