11 PROBLEM #1 Non-Profit Domestic Corpor

20 Related
30 Gross Income 2,000,000
41 expenses - 500,000
51 Net 1,500,000
60
70 Pre-Dominance
80 taxable income 1,700,000 10%
90 rent
10 0 tax still due
11 1
12 1 PROBLEM #2 Domestic Corporation
13 0 RIT
14 0 Sales 12,000,000
15 1 Cogs - 4,000,000
16 0 Gross income 8,000,000
17 1 Dividend rfc 440000
18 1 dividend nrfc 20,000
19 0 Allowable Deductions - 4,065,004
20 0 4,394,996
Problem #1 170,000 and 160,000 - 50,000
Problem #2 4,344,996
A 4,006,154 30%
B 58,850 1,303,499
C 4,344,996
D 1,303,499 RFC
E 72,294 RIT
F 4,164,996 Sales 12,000,000
G 1,249,499 Cogs - 4,000,000
Problem #3 Gross income 8,000,000
A 110,000 Dividend rfc 280000
B 11,200 dividend nrfc
Problem #4 500,000 Allowable Deductions - 4,065,004
Problem #5 940,000 and 167,000 4,214,996
Problem #6 - 50,000
1 1,276,500 4,164,996
2 957,900 30%
3 88,600 1,249,499
4 152,400
5 472,400 PROBLEM #6 RANK AND FILE
6 156,220 RIT
7 106,220 Basic Pay 300,000
8 statutory -80000
9 515,500 regular compensation 220,000
10 30,000 tips 35,000
11 58,875 honorarium 50,000
12 8,875 Cola 50,000
13 680,615 fixed 60,000
 14 238,215 excess 13th MP OB 472,400
15 net taxable comp. 887,400
Problem #7 - 800,000
1 87,400
2 30%
3 26,220
4 130,000
5 tax due 156,220
6 withholding - 50,000
7 tax still due 106,220
8
9 COMPENSATION
10 basic pay 170,000
11 holiday pay 50,500
12 hazard pay 20,000
13 tips 35,000
14 MUVL 45,000
RS 36,000
UA 15,000
EAA 20,000
GIFTS 20,000
MB 20,000
13TH 60,000
LA 5,000
MIDYEAR 60,000
PB 80,000
HONORARIUM 50,000
COLA 50,000
FHA 60,000
CAR 200,000
GROCERY 90,000
TRANSPO 60,000
net pay 1,146,500
statutory 80,000
withholding 50,000
gross compensation 1,276,500
statutory - 80,000
ranspo - 60,000
exempt de minimis - 88,600
exempt 13th - 90,000
net taxable comp 957,900
n-Profit Domestic Corporation PROBLEM #3 RESIDENT FOREIGN CORP
Unrelated
Rent Income 200,000 ABC Airways

to USA 5,000 10,000

to ITALY 4,000 12,000
to GUAM 3,000 4,000
170,000 tax payable TOTAL
- 10,000
160,000

Domestic Corporation
REGULAR DEDUCTIONS SPECIAL DEDUCTIONS
Salaries 2,140,000 SC 32,100
Fringe Benefit 1,200,000 PWD 26,750
FBT 366,154 TOTAL 58,850
EAR 60,000
rent 200,000
depreciation 40,000 FINAL TAX
total regular 4,006,154 royalties 60,000 20%
total special 58,850 interest localk 125,000 20%
total allowable 4,065,004 interest fcdu 235,294 15%
TOTAL

PROBLEM #5
RIT Ordinary L/G
Buss. Inc 800,000 Delivery Equipment - 40,000
rent Inc. 100,000 Land 20,000
dividend FC 20,000 Warehouse 200,000
int. exp - 10,000 180,000
bad debts - 5,000 Capital L/G
PWD- R - 10,000 jewelry 35,000
PWD-S - 5,000 f and f - 15,000
Donation NACI - 40,000 20,000
Donation to ACI - 90,000
Ordinary G/L 180,000
Net Taxable Income 940,000
- 800,000
140,000
30%
42,000
130,000
Tax Due 172,000
Tax Credit - 5,000
Tax Still Due 167,000

De Minimis 13th Month Pay and Ot

Actual exempt excess 13th Month
MUVL 45,000 30,000 15,000 midyear
RS 36,000 24,000 12,000 car
UA 15,000 6,000 9,000 groceries
AA 20,000 - 20,000 excess
GCA 20,000 5,000 15,000
MB 20,000 10,000 10,000
LA 5,000 3,600 1,400 excess
PB 80,000 10,000 70,000
88,600 152,400

Deductible Expense
OREIGN CORP

WXY Airways

50,000,000 # OF PASS amount total

48,000,000 AUST TO ITLY 600 12,000 7,200,000
12,000,000 china to usa 400 10,000 4,000,000
110,000,000 TOTAL 11,200,000

PROBLEM #4 RESIDENT CITIZEN

Gross income Philippines
Philippines 5,000,000
USA 3,000,000
Australia 2,000,000 10,000,000
- 8,000,000
limit 1 2,000,000
1,555,000 35%
limit 2 700,000
12,000 1,555,000 2,410,000
25,000 limit 3 3,110,000
35,294 500,000 - 280,000
72,294 - 220,000
2,610,000

MANAGER
COMPENSATION RIT
basic pay 170,000 Basic Pay 300,000
holiday pay 50,500 statutory -80000
hazard pay 20,000 regular compensation 220,000
tips 35,000 tips 35,000
13TH 60,000 honorarium 50,000
MIDYEAR 60,000 Cola 50,000
HONORARIUM 50,000 fixed 60,000
cola 50,000 holiday 50,500
fha 60,000 hazard 20,000
transpo 60,000 excess 13th MP OB 30,000
net pay 615,500 net taxable comp. 515,500
statutory 80,000 - 400,000
withholding 50,000 115,500
gross compensation 745,500 25%
statutory - 80,000 28,875
transpo - 60,000 30,000
exempt 13th - 90,000 tax due 58,875
net taxable comp 515,500 withholding - 50,000
tax still due 8,875
13th Month Pay and Other Benefits
60,000
 60,000
200000
90000
152,400
562,400
- 90,000
472,400
 PROBLEM #7

USA Australia
933,000 622,000

De Minimis 13th Month Pay and Other Benefits

Actual exempt excess 13th Month
MUVL 45,000 30,000 15,000 midyear
RS 36,000 24,000 12,000
UA 15,000 6,000 9,000
AA 20,000 - 20,000 excess
GCA 20,000 5,000 15,000
MB 20,000 10,000 10,000
LA 5,000 3,600 1,400
PB 80,000 10,000 70,000
88,600 152,400

FRINGE BENEFIT TAX

car 200,000
groceries 90,000
excess DM 152,400
FB 680,615
35%
FBT 238,215.38
Month Pay and Other Benefits
60,000
60,000
120,000
- 90,000
30,000