Reference no: EM132827657

Question 1: Which of the following income of individual is subject to final tax?

A. P10,000 prize in Manila won by a resident citizen

B. Dividend received by a resident citizen from a resident corporation

C. Share in the net income of a general professional partnership.

D. Dividend received by a non-resident alien from a domestic corporation

Question 2: Interest received by nonresident individual from a depository bank under the expanded foreign currency deposit system is exempt from tax.

Passive income received by a resident from sources outside the Philippines shall be generally subject to Section 24 (A) and not subject to final tax

A. True, Tue

B. True, False

C. False, False

D. False, True

Question 3: Which of the following is covered by gross income taxation?

A. Resident Alien

B. Nonresident Alien- engaged in trade or business

C. Nonresident Alien- not engaged in trade or business

D. Non-resident citizen