TEST III-Question No.

3- Use the table below to compute the tax due

TAX TABLE
If TAXABLE INCOME is:
Not over P 10,000

TAX DUE is:

5%

Over P 10,000 but not over P 30,000 P 500 + 10% of the excess over P 10,000
Over P 30,000 but not over P 70,000 P 2,500 + 15% of the excess over P 30,000
Over P 70,000 but not over P
140,000

P 8,500 + 20% of the excess over P 70,000

Over P 140,000 but not over P

250,000

P 22,500 + 25% of the excess over P

140,000

Over P 250,000 but not over P

500,000

P 50,000 + 30% of the excess over P

250,000

Over P 500,000

P 125,000 + 32% of the excess over P

500,000

MS. DINA DALE, married with 4 minor children, chiefly dependent to her spouse and
signed a waiver in favor of her husband to claim additional exemption. She is a
citizen and resident of the Philippines. She had the following data on income and
expenses:
Salaries, net of SSS, Pag-Ibig contributions and
Philhealth in the amount of P3,400, 1,200 and 2400, respectively
188,000.00
Thirteenth month pay-net of late and absences
15,500.00
Allowances
Gain on Sale of Capital asset
16,000.00

10,000.00

Compute the Income Tax due on December 31, 2014.

TEST IV- Enumerate the following:
1.4 -Give the four sources of Income

5-7 -Three kinds of Corporation

8-10- Give the basic and additional exemptions of the following;
BASIC
ADDITIONAL
a. Married Individual with two kids
P
b. Head of the Family with Dependent
Other than children
c. Single with dependent four
Minor children

11-15- Enumerate the classification of Individual taxpayers as to

Citizenship and Aliens
16-17- Kinds of exemptions for Individual taxpayers
18-20- Give the three classifications of Special nonresident foreign
corporation.