Reference no: EM132678712
Problem 1: Tacurong, a resident citizen, won $1,000,000 from the US lottery. The lottery winning is
a. exempts from tax
b. subject to 20% final tax
c. subject to 10% final tax
d. subject to regular tax
Problem 2: Mr. Curandang submitted a sworn statement regarding the alleged tax evasion practices of Chitie Corporation. This led the BIR to recover P20,000,000 unpaid taxes. How much net tax informer's reward shall be paid to Mr. Curandang?
a. P 1,800,000
b. P 1,600,000
c. P 1,000,000
d. P 900,000
Problem 3: A concerned government employee furnished the BIR a statemet detailing the improper tax practices of a corporate taxpayer. The information was instrumental to the collection of P500,000 tax. How much informer's tax reward after tax shall be released to the information?
a. P 0
b. P 40, 000
c. P 45, 000
d. P 50, 000
Problem 4: Roy invested P1,000,000in the "tax free" corporate bonds pf RBC Corporation. The bond pays 8. 75% interest annually net of any taxes. How much final tax must RBC Corporation withhold from the annual interest payment to Roy?
a. P 36, 000
b. P 16, 800
c. P 37, 500
d. P 0
Problem 5: A taxpayer wants to manually file his Monthly Remittance Return of Final Income Tax Withheld for the month of February 2017. What is the deadline for the return?
a. February 14, 2017
b. February 28, 2017
c. March 10, 2017
d. April 15, 2017
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