Name: Score:

I. Indicate the classification of taxpayer (RC, NRC, RA, NRA-ETB, NRA-NETB) and indicate the tax base if the taxpayer is taxable
at GROSS TAXABLE INCOME (GTI) or NET TAXABLE INCOME (NTI).

PERSON CLASSIFICATION TAX BASE

1. An overseas Filipino Worker.
2. A Filipino who is privately employed in the Philippines.
3. An unemployed Filipino residing in the Philippines.
4. A Chinese businessman who have his domicile in the Philippines for 6 months.
5. A Japanese who married a Filipina and residing in the Philippines for 2 years.
6. An American tourist in Boracay.
7. A 2-year Korean college student studying in FEU.
8. Manny, a Filipino businessman, went on a business trip abroad and stayed there most
of the time during the year
9. Efren, a Filipino "cue" artist went to Canada during the taxable year to train and
participate in the world cup of pool. He stayed there most of the time during the year.
10. Due to his expertise, Engr. Pedro D. Magiba (a freelancer) was hired by a foreign
petroleum contractor in Thailand to provide technical assistance for two months from
February to March. He was hired again for the months of June-July and October-
December of the same taxable year.

II. The following cumulative balances during the year on income and expenses were provided by Juan Dela Cruz, a resident citizen:

1st Q 2nd Q 3dQ Year

Gross Profit from Sales P300,000 P650,000 P910,000 P1,200,000
Business expenses 120,000 262,000 405,890 426,700
Dividends-domestic corp. 20,000 20,000 30,000 30,000
Interest income from
BPI 4,000 8,000 12,000 16,000
UCPB 8,000 12,000 16,000 18,000
Metro Bank 5,000 10,000 15,000 30,000
Capital gain on sale of Land: 150,000 150,000 150,000 150,000
Selling price-P600,000; Cost-P450,000

REQUIRED: Using above information, compute the following

1. Income tax payable, first quarter 4. Income tax payable, fourth quarter
2. Income tax payable, second quarter 5. Total final taxes (for the year) on passive income
3. Income tax payable, third quarter 6. Total capital gains tax

III. Computation of Basic Income Tax, Final Tax on Passive Income and Capital Gains Tax.

KIM, single, had the following data for 2020 taxable year:
Gross business income, Philippines P1,000,000 Interest income from peso bank deposit- Philippines 20,000
Gross business income, USA 500,000 Interest income from bank deposits abroad 30,000
Business expenses, Philippines 700,000 Interest income from FCDS deposits 40,000
Business expenses, USA 430,0000 Royalty income from composition 25,000
Compensation income, Philippiness 600,000 Raffle draw prizes 10,000
Dividend income from a domestic corporation 50,000 PCSO winnings 200,000
Dividend income from a foreign corporation 40,000 Creditable withholding taxes on business income 125,000

REQUIRED:
Determine the following assuming the taxpayer is a resident citizen and nonresident alien not engage in trade or business:
1. net income 4. Total income tax expense
2. Income tax payable
3. Total final taxes on passive income
Solutions: