Renzo, a resident citizen, deposited P 2,000,000 in the 180 day time deposit of Banco de Baguio. The deposit pays 8% interest. Compute the final tax on maturity of the deposit. a. 6,000b. 8,000c. 16,000d. 20,000 Assume that Renzo is a non-resident alien not engaged in trade or business. Compute the final tax on maturity of the deposit. a. 6,000b. 8,000c. 16,000d. 20,000 Winnona receive
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Renzo, a resident citizen, deposited P 2,000,000 in the 180 day time deposit of Banco de Baguio. The deposit pays 8% interest. Compute the final tax on maturity of the deposit.
a. 6,000
b. 8,000
c. 16,000
d. 20,000
Assume that Renzo is a non-resident alien not engaged in trade or business. Compute the final tax on maturity of the deposit.
a. 6,000
b. 8,000
c. 16,000
d. 20,000
Winnona received P 42,000 interest from short-term deposits. Compute the final tax withheld on interest.
a. 4,500
b. 5,000
c. 9,000
d. 10,500
On January 1, 2017, Mr. Dennis invested P 2,000,000 in the six year time deposit. Sulu Unibank which pays 10% annual interest. Compute the final tax to be withheld by Sulu Unibank on December 31, 2017.
a. 0
b. 100,000
c. 200,000
d. 250,000
Assume Mr. Dennis pre-terminated the time deposit on July 1, 2021. Compute the final tax to be withheld on pre-termination.
a. 5,000
b. 12,000
c. 45,000
d. 108,000
Candy Corporation, a domestic corporation, deposited P 1,000,000 in the five-year time deposit of Banco Filipino which pays 10% annual interest. Compute Candy Corporation’s net interest income in the first year of the deposit.
a. 100,000 c. 80,000
b. 10,000 d. 70,000
Assume Candy Corporation is a non-resident corporation; compute the final tax on interest income.
a. 0 c. 20,000
b. 10,000 d. 30,000
earns 10% annual interest. Calla, Inc. Pre-terminated the deposit on June 30, 2020. Compute the final tax to be withheld on pre-termination.
a. 0
b. 17,500
c. 10,000
d. 42,000
John, a resident citizen, invested P 1,000,000 in a debt instruments (deposit substitute) issued by UniBank. The debt instruments pay 10% annual interest payable every quarter. How much final tax should UniBank withhold in the first quarter of the issue?
a. 0
b. 6,250
c. 5,000
d. 20,000
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