Central Philippine University
Quiz – Tax 41
Name:_______________________________Course:_______________Score:_________
Note: Show your computation in any space available in this paper
A. Mr. de Buenas reported the following:
Winning from casino game …………………………………… P15,000
Winning from Bingo (number game)
…………………….
5,000
Winning from PCSO ………………………………………. 100,000
1. If Mr. de Buenas is a Filipino and resident, final tax shall be P________________.
2. If Mr. de Buenas is a non-resident alien, not engage in business in the Philippines, final tax
shall be P_____________________.
3. If Mr. de Buenas is a resident alien, final tax shall be P____________________.
B. Mr. Gabino Ang, Filipino and working as a nurse and residing in Canada for 5 years earned the
following in the Philippines:
Interest from local currency deposit ……………………. P 5,000
Interest from dollar deposit ……………………………...P 50,000
Cash dividends (from domestic corp) …………………. P 75,000
4. The amount of final tax shall be P_______________
C. A Filipino taxpayer sold his shares of stocks not at a local stock market. Details of the sale as
follows:
Selling Price ………………………………………….. P 250,000
Par value ………………………………………………
110,000
5. Tax shall be P___________________.
D. A taxpayer sold his residential lot as follows:
Selling Price …………………………………………. P 500,000
Cost ………………………………………………….
200,000
Gain on sale …………………………………………. P 300,000
The said lot has a Fair market Value of P450,000 and Zonal Value of P520,000.
6. If the taxpayer is a resident citizen, capital gains tax shall be P_______________.
7. If the taxpayer is a resident alien, capital gains tax shall be P_______________.
E. A resident Filipino taxpayer reported the following:
Prize from a raffle …………………………………
P 8,000
Royalties on books …………………………………… 120,000
Interest income on peso deposit ………………………
12,000
8. Final tax is P__________________.