Beruflich Dokumente
Kultur Dokumente
Theories
Problems
1. Mrs. Claveria had a gross taxable income of 400,000.She earned an additional 2,000 by investing her
money in time deposits plus 3,000 interest income from lending money to a friend. Compute her taxable
income.
2. Ms Sanchez had a business net income of 300,000. She also earned 5,000 commission from selling
cellular cards and 12,000 dividends from a domestic corporation. Compute her taxable income.
3. Mr. Bangul earned a total gross receipts of 800,000 and paid 300,000 in expenses in his accounting
practice. During the same year, he also earned a total of 60,000 net gain from the sale of domestic stocks
directly to a buyer. He also disposed a vacant lot at a net gain of 140,000. What is the taxable income of
Mr. Bangul?
4. Mr. Monreal earned a gross compensation income of 200,000 and gross business income of 500,000
before expenses of 200,000. He also earned book royalties of 10,000 and interest income from client’s
promissory notes. Mr. Monreal has a personal expenses of 170,000 during the year. Compute for the
taxable compensation income.
7. Mr. Pamplona earned a compensation income of 120,000 and net income from business of 300,000. He
also earned 8,000 prizes from a dancing competition and 45,000 royalties from his musical compositions.
Compute the taxable income.
8. In 2015, Ms. Balayan earned 450,000 gross compensation income but incurred 120,000 net loss in her
business. What is her taxable income assuming she had a personal exemption of 100,000?
9. Mr. Gudini, with a 75,000 personal exemption, had the following data in 2018:
Philippines Abroad
Philippines Abroad
12. Compute the income tax due in the immediately preceding problem
13. Compute the taxable income assuming Cavite inc was a resident foreign corporation
14. Compute the income tax due in the immediately preceding problem
15. Compute the tax due if Cavite Inc was a non-resident foreign corporation. Assuming that the tax sparing
rule is not applicable to Cavite