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Income taxation resident and non resident citizen income tax due taxable income income tax payable computation

Income taxation resident and non resident citizen income tax due taxable income income tax payable computation

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PROBLEM 06. An individual taxpayer in the Philippines is legally separated from his wife. He has three dependent children and has the following data for the current year 2018. Gross Compensation Income Gross Business Income Other Gross Income Business Expenses Royalty Income Income tax paid abroad Withholding tax on wages Withholding tax at sources Prior Quarterly installment tax Payment PHILIPPINES 140,000 450,000 15,600 240,000 75,000 0 10,600 18,000 30,000 ABROAD 150,000 410,500 16,000 280,000 56,000 54,500 0 0 0 Solve for resident and non resident income tax due, taxable income and income tax payable. Answer: RESIDENT Gross Compensation Income Gross Business Income Other Gross Income Royalty Income TOTAL INCOME Business Expense TOTAL BUSINESS EXPENSE Income tax paid abroad Withholding tax on wages Withholding tax at sources Prior Quarterly installment tax Payment PHILIPPINES ABR ...
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CIS443 Strayer University Week 9 Controlling Costs and Defects Discussion

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