Carlo received the following passive income in 2021 upon the effectivity of the CREATE Law:

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Interest, peso deposit - Metrobank Php 100,000.00

Interest, $ deposit - BDO ($=Php 42) $ 10,000.00

Interest, deposit in Hongkong (HK$ = Php 5) HK$ 10,000.00

Prize (TV) won in local lottery Php 50,000.00

PCSO winnings Php 2,000,000.00

Prize won in contest in US Php 300,000.00

Lotto winnings in US Php 100,000.00

Dividend, Domestic Corp Php 600,000.00

How much is the correct FWT on passive income assuming further that Carlo is ?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Mar 07, 2024 12:42 PM

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Carlo received the following passive income in 2021 upon the effectivity of the CREATE Law:

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The correct Final Withholding Tax FWT on passive income for Carlo can be calculated based on the var... View the full answer

Income Tax Fundamentals 2013

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