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    Individual Tax - Problems

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    Julienne Julio
    Kathlyn, a Norwegian lecturer, earned P320,000 in professional fees and P140,000 from book sales during a four-week lecture series in the Philippines. She incurred P120,000 in travel expenses and P100,000 in food and accommodation costs. Her Philippine income tax due is P115,000, calculated as 25% of her gross income of P460,000.

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    Individual Tax - Problems

    Uploaded by

    Julienne Julio
    3K views5 pages
    Kathlyn, a Norwegian lecturer, earned P320,000 in professional fees and P140,000 from book sales during a four-week lecture series in the Philippines. She incurred P120,000 in travel expenses and P100,000 in food and accommodation costs. Her Philippine income tax due is P115,000, calculated as 25% of her gross income of P460,000.

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    Kathlyn, a Norwegian lecturer, earned P320,000 in professional fees and P140,000 from book sales during a four-week lecture series in the Philippines. She incurred P120,000 in travel expenses and P100,000 in food and accommodation costs. Her Philippine income tax due is P115,000, calculated as 25% of her gross income of P460,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    3K views5 pages

    Individual Tax - Problems

    Uploaded by

    Julienne Julio
    Kathlyn, a Norwegian lecturer, earned P320,000 in professional fees and P140,000 from book sales during a four-week lecture series in the Philippines. She incurred P120,000 in travel expenses and P100,000 in food and accommodation costs. Her Philippine income tax due is P115,000, calculated as 25% of her gross income of P460,000.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Situational Problem No.

    1:
    Kathlyn, of Norwegian parentage went to the Philippines for a short lecture series wherein she
    lectured about how to avoid bullying. The lecture series lasted for four weeks. The following
    details pertain to Kathlyn’s lecture series in the Philippines:
    Professional fees for lecture (P80,000 a week) P 320,000
    Income from onsite bookselling 140,000
    Travel expenses incurred, with receipts 120,000
    Food and accommodation expenses incurred, with receipts 100,000
    How much is Kathlyn’s Philippine income tax due?

    ANSWER:

    Professional fees for lecture (P80,000 a week) 320,000


    Income from onsite bookselling 140,000
    Gross Income 460,000
    Tax rate 25%
    Income Tax Due 115,000

    *KAPAG NRA-NETB - isusugal sa 25%


    Industrious as he is known, Arthur, a non-VAT registered resident citizen, works as a
    government employee at daytime and accepts clients for accounting work after office hours. At
    the same time, Arthur maintains a t-shirt printing shop to earn more. For the taxable year ending
    December 31, 2021, Arthur earned the following amounts:
    Taxable compensation income P 850,000
    Gross receipts from accounting work 1,500,000
    T-shirt printing shop
    Gross sales 1,400,000
    Cost of sales (800,000)
    Gross income P 600,000
    Operating expenses (400,000)
    Net income P 200,000_
    1. Assuming that the availment of the 8% income tax option is proper, how much is
    Arthur’s income tax due?
    2. How much is Arthur’s percentage tax due?

    ANSWER:

    1. Taxable Compensation Income 850,000 kapag mixed income earner


    First 800,000 130,000
    On the excess (850,000-800,000) * 30% 15,000
    Income Tax on Compensation 145,000

    Gross receipts from accounting work 1,500,000


    Gross sales 1,400,000
    Total Gross Receipts/Sales 2,900,000
    Tax rate 8%
    Income Tax on Businesses 232,000

    Income Tax Due 377,000

    2. 0

    INCOME FROM BUSINESS/PROFESSIONAL 8%


    MIXED INCOME EARNERS Hindi na magleless ng 250,000
    kapag mixed income earner, hiwalay ang compensation income

    hindi na magbabayad ng percentage tax due kapag subject na sa 8%


    NOW: Percentage tax due is 1%
    ANSWER:

    1. Taxable Income - Philippine Cheetah 300,000


    Taxable Income - Philippine Dolphin 200,000
    Total Taxable Income 500,000

    First 400,000 30,000


    On excess (500,000 - 400,000) * 25% 25,000
    Income Tax Due 55,000

    2. 0

    3. Gross receipts - Philippine Cheetah 4,000,000


    Gross receipts - Philippine Dolphin 2,000,000
    Total Gross receipts 6,000,000
    Tax rate 3%
    Percentage Tax Due 180,000

    kapag non-vat, papalo ka sa OPT


    PASSIVE INCOME
    within the Philippines - FWT
    outside - basic tax

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