1.) 2.) 3.) 4.) Income from source within the Philippines will be taxable in the Philippines:...

 
 
 
 

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1.) 2.) 3.) 4.) Income from source within the Philippines will be taxable in the Philippines: 5.) Capitalizable in case Qualifying Asset Deductible if paid to related party Amount Due Type of Tax Non-resident Alien No Yes Yes Non-resident Citizen Yes Yes No Interest expense under Section 34 of the Tax Code is: A A Yes No A P150,000 Final Filipino OFW residing in HK Short-term Filipino OFW resident of Manila B B P 150,000 Creditable B C Yes The following relates to Depreciation expense under Section 34 of the Tax Code and current Revenue Regulation: A C A. Straight line method, inventory method and escalated method of depreciat is allowed while double declining balance method is equally allowed No B. Depreciation of inventory held for sale can only be allowed if straight line method of deprecation is to be used Yes C. Depreciation of machineries used in production is best charged to product cost as depreciation of this type of asset is directly proportional to its usage in the production activity D. Change in previously communicated method or life used in determination of depreciation is not required to be communicated to the Commissioner of Internal Revenue Capital Gains tax on sale of real property at P 2,000,000 with an asessor's far value of P 1,800,000 and fair value of the Commissioner is at determined at P 3,000,000.: Income from source from foreign countries will Yes Yes No D No No No No D C P 180,000 Final B Yes с D P 180,000 Creditable taxable in the Philippines: D Yes Yes No No No 1.) 2.) 3.) 4.) Income from source within the Philippines will be taxable in the Philippines: 5.) Capitalizable in case Qualifying Asset Deductible if paid to related party Amount Due Type of Tax Non-resident Alien No Yes Yes Non-resident Citizen Yes Yes No Interest expense under Section 34 of the Tax Code is: A A Yes No A P150,000 Final Filipino OFW residing in HK Short-term Filipino OFW resident of Manila B B P 150,000 Creditable B C Yes The following relates to Depreciation expense under Section 34 of the Tax Code and current Revenue Regulation: A C A. Straight line method, inventory method and escalated method of depreciat is allowed while double declining balance method is equally allowed No B. Depreciation of inventory held for sale can only be allowed if straight line method of deprecation is to be used Yes C. Depreciation of machineries used in production is best charged to product cost as depreciation of this type of asset is directly proportional to its usage in the production activity D. Change in previously communicated method or life used in determination of depreciation is not required to be communicated to the Commissioner of Internal Revenue Capital Gains tax on sale of real property at P 2,000,000 with an asessor's far value of P 1,800,000 and fair value of the Commissioner is at determined at P 3,000,000.: Income from source from foreign countries will Yes Yes No D No No No No D C P 180,000 Final B Yes с D P 180,000 Creditable taxable in the Philippines: D Yes Yes No No No

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A Question 1 Income from sources within the Philippines will be taxable in the Philippines Yes All income from sources within the Philippines is taxable in the Philippines according to the Philippine ... View the full answer