20) Gain from sale of real property classified as ordinary asset 5 +1) Income derived by a depository bank from foreign currency transactions with pon- residents, OBUs in the Philippines, local commercial bank including branches of “Foreign banks x | 22) Interest income from foreign currency loan granted by depository banks under expanded system to residents other than OBUs in the Philippines and other depository bank 23) income of NON-RESIOI IGN CORPORATION from transactions with | depository banks under expanded system | 24) Dividend from a domestic corporation (25) Dividend from a foreign corporation | 26) Dividend received from domestic corporation by a NON-RESIDENT FOREIGN | _ CORPORATION (no sparing tax credit) le | 27) Dividend received from, domestic corporation by a NON-RESIDENT FOREIGN RPORATION (with sparing tax credit) oe 28) Interést on foreign loans contracted on or after August 1, 1986 received by non resident foreign corporation Pera Ses J 28) Interest income received by RESIDENT FOREIGN CORPORATION from a depository | 1h | — bank under expanded foreign currency deposit system Ne | 30) Interest income received by 3 NON-RESIDENT FOREIGN CORPORATION from a [2 \2 | ___ depository bank under expanded’ foreign currency deposit system Beenpt | : | 2.4 domestic comparation has the following the data for the fiscal year starting June 1, 2008 and ending May | 31, 2009: | Gross income, Philippines P 5,000,000 Gross income, USA 10,000,000 | Deductions, Philippines 2,000,000 | Deductions, USA 4,000,000 i Payments, first three (3) quarters 1,000,000 | the tax payable for the fiscal year ending M: 2 ee |_-How much isthe tx payable forthe fiscal year ending May 31, 2009? . 969, 3. ABC Corporation was created in accordance with Philippines laws. During ®R® calendar year 2014, it has the 4 following data.on income-and expenses: bey Gross income, Philippines (gross sales, P15,000,000) 10,000,000 Business expenses, Philippines 2,000,000 | | Gross income, USA (gross sales, P8,000,000) 5,000,000 | Business expenses, USA 41,500,000 | bepnterest income, Bank of PI-Manila, Philippines 300,000 | Interest income from long-term deposit, Philippines 80,000 Dividend from a domestic corporation 150,000, ‘Wrdinterest income from domestic depository bank under EFCDS 120,000 Interest income, JP Morgan-Chase Bank, USA : 100,000 | Prizes, Manila 200,000 Interest income from loans, Philippines 300,000 | | Y4-Rent income from equipment, Philipines, gross of applicable withholding tax 1,000,000 | Payments, first three (3) quarters 500,000 Question 1 ~ How much is the Philippine income tax payable? 2— How much is the total final withholding tax? | | 3— How much is the Philippine income tax payable using OSD? | 4— Assuming the above corporation is a foreign corporation engaged in trade or business in the Philippines, how much is the Philippine income tax payable? 5 — Disregarding certain information which are not applicable and assuming the corporation is not engaged in business in the Philippines, how much is the final withholding taxes in the Philippines? 4. A corporation has the following income: Interest income derived from depository bank under Expanded Foreign Currency Deposit System (EFCDS) 100,000 | Capital gain from sale of shares of stock not traded in the local stock exchange 200,000 Dividend from a domestic corporation 300,000 | © Question 1 ~ How much is the final tax on the passive income and the capital gains tax, assuming the corporation js a resident foreign corporation? | How much is the final tax on the passive income and the capital gains tax, assuming the corporation is non-resident foreign corporation? ae rns al il ae a i Na 2