BMSH2003

Name _________________________________ Section ______________________ Date _______________

ACTIVITY

Answer the following items on the space provided. Show your computations. (8 items x 5 points)

1. Compute the income tax due, assuming that an individual taxpayer realized the following business
income for the calendar year 201A:
a. P1,600,000
b. P2,800,000
c. P450,000
d. P280,000

2. Compute the income tax due on compensation for the following individual taxpayers:
a. Brenda Belmonte – P360,000
b. Hazel Ramos – P1,200,000
c. Alvin Vargas – P3,000,000
d. Irish Padua – P650,000

Graduated income tax rates

Amount of Net Taxable Income Rate

Over But Not Over
- P250,000 0%
P250,000 P400,000 20% of the excess over P250,000
P400,000 P800,000 P30,000 + 25% of the excess over P400,000
P800,000 P2,000,000 P130,000 + 30% of the excess over P800,000
P2,000,000 P8,000,000 P490,000 + 32% of the excess over P2,000,000
P8,000,000 P2,410,000 + 35% of the excess over P8,000,000

Rubric for scoring:

Performance Indicators Points

Correct accounts and amounts used 3
Computed final amounts are correct/balanced 2
Total 5

07 Activity 1 *Property of STI

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