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  • Arcebal Activity#2

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    Vheia Arcebal
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    Carla Arcebal is a resident citizen individual who earned various types of passive income during the tax year. Her total final tax withholding is P30,400, calculated by applying the correct tax rates to her interest income from bank deposits, prizes and winnings, royalties, and dividends. Some sources of income like certain prizes, share from a GPP, and interest income of a non-resident are exempt from tax withholding.

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    Carla Arcebal is a resident citizen individual who earned various types of passive income during the tax year. Her total final tax withholding is P30,400, calculated by applying the correct tax rates to her interest income from bank deposits, prizes and winnings, royalties, and dividends. Some sources of income like certain prizes, share from a GPP, and interest income of a non-resident are exempt from tax withholding.

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    7 views1 page

    Arcebal Activity#2

    Uploaded by

    Vheia Arcebal
    Carla Arcebal is a resident citizen individual who earned various types of passive income during the tax year. Her total final tax withholding is P30,400, calculated by applying the correct tax rates to her interest income from bank deposits, prizes and winnings, royalties, and dividends. Some sources of income like certain prizes, share from a GPP, and interest income of a non-resident are exempt from tax withholding.

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    Name: Arcebal, Carla Vheia A.

    Section: BSBA 2F

    Passive Income of Individuals: Final Withholding Taxes


    Instruction: Compute the final tax of the following passive income of resident citizen individual, (unless
    stated that it is not the case). Show your computation, if any.

    Interest Income from bank deposit 100,000


    100 000 x 20% = 20 000
    Prizes and Winnings 20000
    20 000 x 20% = 4 000
    Royalties 15000
    15 000 x 20% = 3 OOO
    Royalties from musical composition by a non-resident alien 10000
    10 000 x 10% = 1 000
    Dividends from a domestic corporation 25000
    25 000 x 10% = 2 500
    Lotto winnings from PCSO 8000
    Exempt
    Share in the income of a GPP 25000
    Exempt
    Prizes in sports tournament organized by the National Sports Association 18000
    Exempt
    Interest income from long term deposit with a bank with BSP certificate pregerminated on its 4 ½ years
    18000
    18 000 x 5%= 900
    Interest income from a bank under the expanded foreign currency deposit system by a non-resident
    alien 34000
    Exempt

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