lly taxable.

Mult i p le Choice - Theory: Pan 2

■ y41%4 pdi

Whic h o f the following will not be reported ingross income?

a Receipt of inheritance
b.Share in the net income of a foreign partnership
c.Royalties from foreign sources
d.Income distribution from a taxable estate
Which is not a reportable type of gross income?
a.Passive royalties
b.Dividends from a foreign corporation
c.Rent income
d.Capital gains from the sale of domestic stocks through the PSE
3. Which of the following is included in gross income subject to regular tax?
a. Sub-contract income from petroleum service contractors
b.interest income from government securities
c.Share in the net income of a taxable co-ownership
d.Farming income
4. All income earned abroad that would otherwise be subject to final taxes if earned
within the Philippines shall be subject to progressive tax of a
a. domestic corporation. c. resident alien.
b• resident citizen. d. all taxpayers.
S. All items of passive income earned abroad are subject to regular tax to
a.a resident citizen only.
b.
a domestic corporation only.
c.a resident citizens and domestic corporations.
d.all taxpayers.
6• Which individual taxpayer is not subjecc.tRtoespidrore
engtat tax?
a.NRA-ETB
Which c d. Resident citizen
b.Special aliens

b.Domestic corporation to regular tax?

oResident
r p o ratecorporation
a. Dom e s t . taxpayer is not subje cct. d. Non-resident foreign corporation
Business partnership
B. Individual idual taxpayers shall report their income on l
a fiscal year.
° c. either a fiscal or ca endar year.
 d. a crop year.
a c a l e n d a r y e a r .