question archive Ryan, married, supporting his three (3) minor children had the following data for the current taxable year (Exchange Rate $1=P50): Philippines Abroad Business income P1,000,000 $20,000 Professional income 400,000 10,000 Salaries 200,000 - Business and professional expenses 250,000 8,000 Income tax paid - 4,000 If he is a resident citizen and the taxable year is 2018, his income tax payable is: P434,000 P570,500 P589,000 P509,000 If he is a non-resident citizen and the taxable year is 2018, his income tax payable is: P295,000 P358,020 P384,380 P357,000
Ryan, married, supporting his three (3) minor children had the following data for the current taxable year (Exchange Rate $1=P50): Philippines Abroad Business income P1,000,000 $20,000 Professional income 400,000 10,000 Salaries 200,000 - Business and professional expenses 250,000 8,000 Income tax paid - 4,000 If he is a resident citizen and the taxable year is 2018, his income tax payable is: P434,000 P570,500 P589,000 P509,000 If he is a non-resident citizen and the taxable year is 2018, his income tax payable is: P295,000 P358,020 P384,380 P357,000
Subject:BusinessPrice: Bought3
Ryan, married, supporting his three (3) minor children had the following data for the current taxable year (Exchange Rate $1=P50):
Philippines
Abroad
Business income
P1,000,000
$20,000
Professional income
400,000
10,000
Salaries
200,000
-
Business and professional expenses
250,000
8,000
Income tax paid
-
4,000
If he is a resident citizen and the taxable year is 2018, his income tax payable is:
- P434,000
- P570,500
- P589,000
- P509,000
If he is a non-resident citizen and the taxable year is 2018, his income tax payable is:
- P295,000
- P358,020
- P384,380
- P357,000
