1. X sent his Y P1,000 via a telegraphic transfer through the Bank of D. The bank's remittance clerk made a mistake and credited Y with P1,000,000 which she promptly withdrew. The bank demanded the return of the mistakenly credited excess, but Y refused. The BIR entered the picture and investigated Y. How much income does Y earn from the above facts? (Situs of Income)

2. X, a Polishresiding in Poland, was contracted by Y to install air purifiers across Metro Manila.The materials and other supplies were imported from Poland. He startedrecalibrating the purifies in Poland and spent 20 days there.The installation job was completed in the Philippines for another 10 days. He was paid P9,000,000 for his job.How much was the income from a Philippine source?

3. X received dividends of P500,000 from XYZ Corp.For the last three years,XYZ Corpearns gross income of P3,000,000 within Philippines andP9,000,000 abroad. How much of the said dividends is considered derived from within?

4. X, a Filipino, is currently working in Uganda. She earns a total compensation income of P5,400,000 per year. While in Uganda, she entered into the following contract of sale: Sale of shares of stocks in XXX Company, Inc., a publicly-listed domestic corporation, for P1,200,000. The fair market value of the share is P1,500,000. The shares were acquired for P800,000. Sale of his house and lot located in Marikina to Y, his Filipino friend, who also works in Ugandafor P5,300,000. She acquired the house and lot for P2,000,000. Sale of his car for P900,000. He bought the car from the Philippines for P500,000 two years ago and exported the same to Ugandafor personal use. Compute the actual gain derived from sources within the Philippines.

5. How much is the income from sources within? Gross Income from the practice of profession as CPA in the Philippines, P220,000 Rent on a building located in Makati, net of 5% withholding tax, P95,000 Rent on a commercial building located in USA, P70,000 Interest income, debtor resides in Hongkong, P10,000 Dividends from Ford Motors, a foreign company, declared in 2020 (its total worldwide income for three years is P2,000,000; income within, P1,200,000), P50,000 Royalties received from Ford Motors for use of patents in the USA, P30,000 Dividend from Walmart Corp., USA, declared in 2020 (its total worldwide income for three years is P1,800,000; its income from the Philippines is P800,000), P80,000 Gain on sale of land. The contract of sale was entered in the Philippines. The land was located in Japan, P300,000

Answer rating: 100% (QA)

1 X and Y Income P999000 mistaken bank transfer Situs Philippines The income arose due to an error w... View the full answer