WorksheetsREVIEW OF INCOME TAXATION
Total questions: 15
Worksheet time: 5mins
Interest earned by lending company is
active income subject to regular tax
passive income subject to final tax
Interest earned by a bank is subject to
regular tax
final tax
Interest income earned by a depositor is
subject to final tax
subject to regular tax
Non-operating income are generally subject to
regular tax
final tax
business tax
exempt
Sale of real property classified as ordinary asset is subject to
CWT 6%
CGT 6%
CGT 15%
1.5%
Raffle prizes during Christmas party in the amount of Php 1,000 is subject to
Regular tax
Final tax
Exempt
12% VAT
Net income of a domestic corporation is Php 1 Million. Total asset is Php 1 Million. The corporate tax rate to be used is?
20%
25%
1%
3%
The partners divided the profit of their partnership. The share of the partner is treated as
Dividends
Interest income
Gross income from trade
Royalty
Rate of tax by Nicanor who won a cash prize of Php 1.00
graduated tax
Exempt
10%
20%
Which is true in taxation of Informer's Reward?
10% rate on amount collected
10% rate on amount assessed
10% of amount collected or 1M whichever is lower
10% of amount collected or 1M whichever is higher
Winnings are generally subject to
regular tax
final tax
exempt
Prizes are generally subject to
regular tax
final tax
exempt
Royalties are generally subject to
regular tax
final tax
Perang napulot sa daan pag binulsa kung walang nakakita is
Taxable
Exempt
Final tax
VATable
Income from e-Sabong betting is subject to
regular tax
final tax
exempt
12% VAT
