Illustration:
1. Helena, single and a resident citizen, has the following passive income for the year 2020:
Interest from BPI Savings Deposit
Royalty from Invention
Prize in a Painting Competition
Dividends Received from a Domestic Corp
P75,000 20% -P15000
80,000 10% - 8,000
50,000 20% -10,000
30,000 10% - 3,000
Computation of Final Tax:
P36,000
2. In 2020, Uri, a resident citizen, owns and holds as capital assets, shares of stocks of Prudential
Guarantee and Assurance, Inc. a domestic corporation, costing P40,000. He sold all the shares directly to
Lilibeth for P160,000. How much final tax must be paid?
Computation of Capital Gains Tax:
Selling price - 160,000
Cost
40,000
Gain
120,000
15%
Final Tax
18,000
3. Nicolas, a resident citizen, sold his residential house and lot in Manila for P2,500,000. The cost of the
house and lot three years ago when he acquired the property was P1,500,000 and the fair market value at
the time of sale is P2,300,000.
How much is the capital gains tax from sale?
(2,500,000 x 6%)
150,000