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FWT - Post Test
Quiz by Van
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Which is not subject to 10% final tax?
BPI incurs P200,000 interest in its deposit account from AMM, its depositor. What is the final tax if AMM is a domestic corporation?
BPI incurs P200,000 interest in its deposit account from AMM, its depositor. What is the final tax if AMM is a non-resident corporation?
If AMM has a share in net income of their partnership AAA of P120,000. What is the amount of the final tax?
Banyuhay Inc. earned a total royalty income of P100,000 from Tahanan Inc. for its cinematography works. What is the final tax if Banyuhay Inc. is a domestic corporation?
Cooper Inc. earned a total royalty income of P100,000 from Tahanan Inc. for its cinematography works. What is the final tax if Cooper Inc. is a non-resident corporation?
Individuals and corporations are tax-exempt on interest income on long term deposits.
What is the final tax rate on interest income on 6-year deposit pre-terminated less than 2 years before maturity?
ABC Department Store conducted a sales promotion where customers purchase exceeding P1,000 in one transaction shall be entitled to a ticket. Mr. Chiong won P10,000 cash prize. How much shall ABC Department Sore withhold from the grand prize winning?
DEF Company, a non-resident foreign corporation, was contracted to design the website of Far Eastern University for P2,000,000. Compute the final tax if the website development is done within the Philippines?
Ms. Isabel Marion, a Filipino citizen owns 10,000 shares of ABC Company, a domestic corporation. At the end of the year 2022, the board of directors decided to declare P2.50 cash dividend per share. How much is Ms. Isabel’s FWT from dividend distribution?
Where the taxpayer is a corporation, which of the following statements is true?
Capital losses are deductible from ordinary gains, but net capital loss is not deductible from ordinary gains.
Ordinary losses are deductible only to the extent of the capital gains, but the net capital loss is not deductible from ordinary gain.
For filing a false and fraudulent return, a surcharge is imposed at: