DE LA SALLE LIPA
College of Business, Economics, Accountancy and Management
Accountancy and Accounting Information Systems Department
2.1 LEARNING EXERCISE: INDIVIDUAL FWT
Individual Final Withholding Taxes
JK received the following passive income in 2022:
Interest, peso deposit, MBTC
Interest, $ deposit, (BDO $10,000 x PHP 42)
Interest, deposit in Hongkong (HK $10,000 x PHP 5)
Prize (TV) won in a local lottery
PCSO Winnings
Prize win in contest in US
Lotto winnings in US
Dividend, domestic company
100,000.00
420,000.00
50,000.00
50,000.00
2,000,000.00
300,000.00
100,000.00
600,000.00
--o0o--
Determine the final tax assuming JK is a resident citizen
Computation:
(1) Resident Citizen
Interest, peso deposit, MBTC @ 20%
20,000.00
Interest, $ deposit, (BDO $10,000 x PHP 42) @ 15%
63,000.00
Prize (TV) won in a local lottery @ 20%
10,000.00
PCSO Winnings @ 20%
Dividend, domestic company @ 10%
400,000.00
60,000.00
₱553,000.00