Question: * Compute the basic income tax assuming taxpayer is resident citizen (under graduated tax rate)? * Compute the basic income tax assuming taxpayer is non-resident

* Compute the basic income tax assuming taxpayer is resident citizen (under graduated tax rate)? * Compute the basic income tax assuming taxpayer is non-resident citizen (under graduated tax rate)? * Compute the total final income tax (from passive income) assuming taxpayer is resident citizen.
A sole proprietor, married, with five dependent children, has the following data for 2018: In Philippines Abroad Gross profit from sales 600,000 300,000 Rental income 50,000 40,000 Interest income from money market placement 20,000 30,000 Dividend income from domestic corp 40,000 10,000 30,000 Dividend income from foreign corp Royalty income-others 50,000 60,000 Interest income bank deposits 40,000 50,000 Awards / prizes from sports contest 90,000 80,000 Share in net income of ordinary partnership 60,000 60,000 Business expenses 100,000 40,000 Royalty income from musical compositions 10,000 20,000 Winnings from Lotto/Sweepstakes 200,000 A sole proprietor, married, with five dependent children, has the following data for 2018: In Philippines Abroad Gross profit from sales 600,000 300,000 Rental income 50,000 40,000 Interest income from money market placement 20,000 30,000 Dividend income from domestic corp 40,000 10,000 30,000 Dividend income from foreign corp Royalty income-others 50,000 60,000 Interest income bank deposits 40,000 50,000 Awards / prizes from sports contest 90,000 80,000 Share in net income of ordinary partnership 60,000 60,000 Business expenses 100,000 40,000 Royalty income from musical compositions 10,000 20,000 Winnings from Lotto/Sweepstakes 200,000
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