1. An actress received talent fees from ABS-CBN amounting to P20,000,000 for 2018. The creditable taxes...
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1. An actress received talent fees from ABS-CBN amounting to P20,000,000 for 2018. The creditable taxes withheld from the talent fees amounted to P1,600,000. She incurred costs and expenses amounting to P5,000,000. Her income tax is: Problem 2 The taxpayer, a minimum wage earner, works for a foundation. He is not engaged in business nor has any other source of income other than his employment. In 2018, the taxpayer earned a total compensation income of P135,000. He contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th-month pay of P11,000. In 2019, the taxpayer earned, aside from his basic wage, additional pay of P140,000 which consists of the overtime pay of P80,000, night shift differential of P30,000, hazard pay of P15,000 and holiday pay of P15,000. He contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th-month pay of P11,000. What is his income tax liability in 2019? Problem 3 A taxpayer operates a convenience store while she offers bookkeeping services to her clients. In 2018, her gross sales amounted to P800,000, in addition to her receipts from bookkeeping services of P300,000. She already signified her intention to be taxed at 8% income tax rate in her 1st quarter return. How much is his tax due in 2018? 1. An actress received talent fees from ABS-CBN amounting to P20,000,000 for 2018. The creditable taxes withheld from the talent fees amounted to P1,600,000. She incurred costs and expenses amounting to P5,000,000. Her income tax is: Problem 2 The taxpayer, a minimum wage earner, works for a foundation. He is not engaged in business nor has any other source of income other than his employment. In 2018, the taxpayer earned a total compensation income of P135,000. He contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th-month pay of P11,000. In 2019, the taxpayer earned, aside from his basic wage, additional pay of P140,000 which consists of the overtime pay of P80,000, night shift differential of P30,000, hazard pay of P15,000 and holiday pay of P15,000. He contributed to the SSS, Philhealth, and HDMF amounting to P5,000 and has received 13th-month pay of P11,000. What is his income tax liability in 2019? Problem 3 A taxpayer operates a convenience store while she offers bookkeeping services to her clients. In 2018, her gross sales amounted to P800,000, in addition to her receipts from bookkeeping services of P300,000. She already signified her intention to be taxed at 8% income tax rate in her 1st quarter return. How much is his tax due in 2018?
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