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Questions and Answers
What is the taxable income of ABC Corporation?
What is the taxable income of ABC Corporation?
- P40,000 (correct)
- P500,000
- P460,000
- P495,000
What is the income tax payable (excess payments) for the year using 25%?
What is the income tax payable (excess payments) for the year using 25%?
- P10,000 (correct)
- P20,000
- P15,000
- P5,000
What is the withholding tax rate for professional fees if the gross income for the current year did not exceed P3M?
What is the withholding tax rate for professional fees if the gross income for the current year did not exceed P3M?
- 20%
- 10%
- 5% (correct)
- 15%
What is the withholding tax rate for rentals on gross rental or lease of personal property in excess of P10,000 annually?
What is the withholding tax rate for rentals on gross rental or lease of personal property in excess of P10,000 annually?
What is the withholding tax rate for income payments made by top withholding agents to their local/resident suppliers other than those covered by other rates of withholding tax?
What is the withholding tax rate for income payments made by top withholding agents to their local/resident suppliers other than those covered by other rates of withholding tax?
What is the requirement for a domestic corporation to be eligible for foreign tax credit?
What is the requirement for a domestic corporation to be eligible for foreign tax credit?
What is the amount of the personal membership fee paid quarterly by MHLCO?
What is the amount of the personal membership fee paid quarterly by MHLCO?
What is the total amount of donations received from domestic and foreign sources?
What is the total amount of donations received from domestic and foreign sources?
What is the percentage used to compute the Fringe Benefit Tax if the employee is a non-resident alien individual not engaged in trade or business within the Philippines?
What is the percentage used to compute the Fringe Benefit Tax if the employee is a non-resident alien individual not engaged in trade or business within the Philippines?
What is the rate of income tax applicable to the corporation?
What is the rate of income tax applicable to the corporation?
What is an example of a fringe benefit that is not limited to the ones listed?
What is an example of a fringe benefit that is not limited to the ones listed?
What is the total amount of withholding tax on rent income?
What is the total amount of withholding tax on rent income?
What is the Fringe Benefit Tax if the employee is a resident citizen of the Philippines?
What is the Fringe Benefit Tax if the employee is a resident citizen of the Philippines?
What is the total amount of income tax payable by the corporation?
What is the total amount of income tax payable by the corporation?
What is the treatment of excess income tax payments?
What is the treatment of excess income tax payments?
What is the purpose of the Fringe Benefit Tax?
What is the purpose of the Fringe Benefit Tax?
What is one of the income tax credits available to the corporation?
What is one of the income tax credits available to the corporation?
What is the tax rate imposed on interest income derived from a depositary under the Expanded Foreign Currency Deposit System?
What is the tax rate imposed on interest income derived from a depositary under the Expanded Foreign Currency Deposit System?
What is the tax base for computing fringe benefit tax?
What is the tax base for computing fringe benefit tax?
What is the tax rate imposed on dividend income from a domestic corporation, assuming the tax sparing rule applies?
What is the tax rate imposed on dividend income from a domestic corporation, assuming the tax sparing rule applies?
How is the Grossed-up Monetary Value (GMV) of a fringe benefit determined for a Non-Resident Alien Not Engaged in Trade or Business (NRANETB)?
How is the Grossed-up Monetary Value (GMV) of a fringe benefit determined for a Non-Resident Alien Not Engaged in Trade or Business (NRANETB)?
What is the tax treatment of fringe benefits received by rank and file employees?
What is the tax treatment of fringe benefits received by rank and file employees?
What is the tax base for capital gain from the sale of shares of stock not traded in the local stock exchange?
What is the tax base for capital gain from the sale of shares of stock not traded in the local stock exchange?
What is the surcharge imposed in addition to the tax required to be paid?
What is the surcharge imposed in addition to the tax required to be paid?
What is the maximum aggregate amount of penalty for failure to file information returns during a calendar year?
What is the maximum aggregate amount of penalty for failure to file information returns during a calendar year?
What is the interest rate for deficiency interest and delinquency interest?
What is the interest rate for deficiency interest and delinquency interest?
When does the deficiency interest run from?
When does the deficiency interest run from?
Can deficiency interest and delinquency interest be imposed simultaneously?
Can deficiency interest and delinquency interest be imposed simultaneously?
What is the total amount due on February 10, 2023, for Mr. A?
What is the total amount due on February 10, 2023, for Mr. A?
