Income Taxation

Compute the taxable income.

• 290,000

• 170,000

• 440,000

• 270,000

Zendy, a resident alien has a taxable income of 20,000,000 from China and 10,000,000 from the Philippines. How much is her taxable income?

• 20,000,000

• 10,000,000

• 30,000,000

• Cannot be determined.

Trina has a taxable income of 2,200,000. How much is her total income tax due?

• 490,000

• 554,000

• 440,000

• 494,000

The 8% income tax is in lieu of which of the following?

• Progressive income tax under income tax table

• 3% percentage tax on sales or receipts

• either progressive income tax under income tax table or 3% percentage tax on sales or receipts

• both the progressive income tax under income tax table and 3% percentage tax on sales or receipts

Tax return for purely employed taxpayer

• 1700

• 1701

• 1702

• 1701-A

The following are deadlines of quarterly ITR, which is incorrect?

• Taxpayer-individual: 1st quarter-May 15, same year

• Taxpayer-individual: 1st quarter-May 15, following year

• Taxpayer-individual: 2nd quarter-August 15, same year

• Taxpayer-corporation: 1st quarter-60 days, end of 1st quarter