Mr. Sotto is a resident citizen who earned the following during the current taxable year: (1) Royalty income from abroad - P120,000; (2) Interest income from his loan extended to his friend living abroad - P30,000; (3) Dividend income from Globe Telecom Inc - P10,000.

 How much income is subject to regular income tax?

Answer rating: 100% (QA)

In the Philippines all the income earned by Mr Sotto is subject to regular income tax Heres why Roya... View the full answer