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Guyito Had The Following Data For 2010 Taxable Year

The document provides information about an individual named Guyito's income and expenses for the 2010 tax year in the Philippines and United States. It then asks multiple choice questions regarding calculating Guyito's taxable income based on different scenarios of his residency and citizenship status, ranging from resident citizen to non-resident alien. A second set of questions is then provided regarding an individual named Maximo's various sources of income and calculating his taxable income and tax based on different residency statuses.

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Queen Valle
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188 views2 pages

Guyito Had The Following Data For 2010 Taxable Year

The document provides information about an individual named Guyito's income and expenses for the 2010 tax year in the Philippines and United States. It then asks multiple choice questions regarding calculating Guyito's taxable income based on different scenarios of his residency and citizenship status, ranging from resident citizen to non-resident alien. A second set of questions is then provided regarding an individual named Maximo's various sources of income and calculating his taxable income and tax based on different residency statuses.

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Queen Valle
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Items 44 through 48 based on the following information:

Guyito had the following data for 2010 taxable year:


Gross income, Philippines P380,600.28
Gross income, United States 255,304.65
Expenses, Philippines 194,269.03
Expenses, United States 193,248.39

44. If the taxpayer is a resident citizen of the Philippines who is married, his taxable income is:
a. P198,387 b. P198,387.51 c. P136,331.25 d. P136,331

45. If the taxpayer is a citizen of the Philippines with residence in the United States who is
married, the taxable income is:
a. P198,387 b. P198,387.51 c. P136,331.25 d. P136,331

46. If the taxpayer is a resident alien who is married, his taxable income is:
a. P136,331 b. P136,331.25 c. P198,387.51 d. P198,387

47. If the taxpayer is a non-resident alien engaged in business in the Philippines who is married
and the law of his country allows full reciprocity on personal exemptions, the taxable income is:
a. P136,331 b. P136,331.25 c. P198,387.51 d. P198,387

48. If the taxpayer is a non-resident alien not engaged in business in the Philippines who is
married, the taxable income is:
a. P330,600.28 b. P380,600.28 c. P330,600 d. P380,600

Items 49 through 51 are based on the following information:


Maximo received the following income in 2010:
Business income, Philippines P300,000
Business income, United States 250,000
Expenses, Philippines 200,000
Expenses, United States 125,000
Interest on deposit with metrobank 3,000
Cash prize won in a local contest 6,000
Cash prize won in a contest in U.S. 10,000
Winnings in lotto 20,000
Winnings in lotto in U.S. 50,000
Dividends from SMC, a domestic company 25,000
Interest on deposit in U.S. ($1 = P48) $500

49. The taxable income if Maximo is a resident citizen, single, is:


a. P259,000 b. P309,000 c. P265,000 d. P315,000

50. The taxable income if maximo is a nonresident alien ETB, married with five dependent
children, is:
a. P109,000 b. 134,000 c. P100,000 d. P106,000

51. The income tax of Maximo assuming he is a nonresident alien NETB, single, is:
a. P71,000 b. P83,500 c. P284,000 d. P334,000

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