A Malaysian occupying a managerial position in an Offshore Banking Unit located in Taguig had the

following data for taxable year 2015.

Salaries received P120,000

Other emoluments 50,000
De minimis benefits 5,000
Interest income from deposit substitutes 20,000
Interest income from long-term Philippine Bank Deposit 10,000
Dividend income from a domestic corporation 150,000
Gain from sale of shares of stock of a domestic corporation
held as investment sold outside of the local stock exchange 175,000
The total income tax expense of the taxpayer is:

a. P73,000 c. P63,000

b. P70,500 d. P83,000

• Answer: D

. Assuming the taxpayer is a Special Filipino employee, his total income tax expense is:

a. P56,500 c. P57,000

b. P58,500 d. P83,000

• Answer: C

Which of the following shall not be subject to the 20% final tax beginning January 1, 2018?

a. Amount of interest from any currency bank deposit and yield or any other monetary benefit from
deposit substitutes and from trust funds and similar arrangements

b. Winnings other than Philippine Charity Sweepstakes and Lotto winnings, regardless of amount

c. Philippine Charity Sweepstakes and Lotto winnings exceeding P10,000

d. Prizes amounting to ten thousand pesos (P10,000) or less

• Answer: D

• “D” is subject to basic tax