Problem 15. The Expanded Foreign Currency Deposit Unit (EFCDU) of a foreign bank reported the following...

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Problem 15. The Expanded Foreign Currency Deposit Unit (EFCDU) of a foreign bank reported the following in 2021: Items Interest income from FOREX loans Interest income from FOREX deposits FOREX trading gains Consultancy fees Rent Income OBUS, FCDUS or EFCDUS P5,000,000 200,000 300,000 250,000 50,000 Received from Other residents P10,000,000 200,000 500,000 120,000 Non-residents Determine the exempt income, income subject to final tax and income subject to regular tax. P4,000,000 100,000 100,000 80,000 Problem 15. The Expanded Foreign Currency Deposit Unit (EFCDU) of a foreign bank reported the following in 2021: Items Interest income from FOREX loans Interest income from FOREX deposits FOREX trading gains Consultancy fees Rent Income OBUS, FCDUS or EFCDUS P5,000,000 200,000 300,000 250,000 50,000 Received from Other residents P10,000,000 200,000 500,000 120,000 Non-residents Determine the exempt income, income subject to final tax and income subject to regular tax. P4,000,000 100,000 100,000 80,000

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Total income Interest income from FOREX loans Interest income f... View the full answer