The following are earnings of Naruto: Within Compensation Income from grocery store Share in lotto winnings...

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The following are earnings of Naruto: Within Compensation Income from grocery store Share in lotto winnings If Naruto is a Resident Citizen, the total income taxable in the Philippines would be: P180,000 Outside 50,000 P120,000 100,000 Naruto, a resident citizen, received the following benefits during the year: Christmas gift Laundry allowance (annual) Clothing allowance Rice subsidy 7,000 10,000 10,000 3,500/mo. Assuming Naruto, a Rank and File employee, has a 13th-month pay before excess de minimis benefits amounting to 85,000, how much is the amount taxable to RIT? Naruto reports the following earnings: Consultancy fee Salary Prizes in raffle ticket Gain on sale of principal residence How much is the income reportable in RIT? P80,000 300,000 20,000 400,000 Naruto, a resident citizen, received the following benefits during the year: Christmas gift Laundry allowance (annual) Clothing allowance Rice subsidy 7,000 10,000 10,000 3,500/mo. How much is the excess de minimis benefit? Naruto, a resident citizen, received the following benefits during the year: Christmas gift 7,000 Laundry allowance (annual) Clothing allowance Rice subsidy 3,500/mo. Assuming Naruto, a Managerial employee, has a 13th-month pay before excess de minimis benefits amounting to 85,000, how much is the amount taxable to RIT? 10,000 10,000 Naruto is a professional registered in the BIR. Naruto has the following details for the year: Sales Sales Return Sales Discount Cost of Sales Expenses 2,565,000 220,000 55,000 730,000 32,000 What is the tax due of Naruto using RIT? The following are earnings of Naruto: Within Compensation Income from grocery store Share in lotto winnings If Naruto is a Resident Citizen, the total income taxable in the Philippines would be: P180,000 Outside 50,000 P120,000 100,000 Naruto, a resident citizen, received the following benefits during the year: Christmas gift Laundry allowance (annual) Clothing allowance Rice subsidy 7,000 10,000 10,000 3,500/mo. Assuming Naruto, a Rank and File employee, has a 13th-month pay before excess de minimis benefits amounting to 85,000, how much is the amount taxable to RIT? Naruto reports the following earnings: Consultancy fee Salary Prizes in raffle ticket Gain on sale of principal residence How much is the income reportable in RIT? P80,000 300,000 20,000 400,000 Naruto, a resident citizen, received the following benefits during the year: Christmas gift Laundry allowance (annual) Clothing allowance Rice subsidy 7,000 10,000 10,000 3,500/mo. How much is the excess de minimis benefit? Naruto, a resident citizen, received the following benefits during the year: Christmas gift 7,000 Laundry allowance (annual) Clothing allowance Rice subsidy 3,500/mo. Assuming Naruto, a Managerial employee, has a 13th-month pay before excess de minimis benefits amounting to 85,000, how much is the amount taxable to RIT? 10,000 10,000 Naruto is a professional registered in the BIR. Naruto has the following details for the year: Sales Sales Return Sales Discount Cost of Sales Expenses 2,565,000 220,000 55,000 730,000 32,000 What is the tax due of Naruto using RIT?

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To determine the taxable income in the Philippines for Naruto we need to consider each source of income and the applicable tax rules Here are the calculations for each scenario Scenario 1 Narutos Earn... View the full answer