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    Drill Problems - Community Tax:: Mr. Lafa Mrs. Lafa

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    RealEXcellence
    The document discusses community tax in the Philippines. It provides examples of community tax calculations for individuals and corporations based on income earned and property values. It also covers rules around community tax exemptions, additional payments, and due dates. The maximum additional community tax an individual and corporation can pay is P5,005 and P10,005 respectively. Aliens residing most of the year in the Philippines and those who lose exemption benefits mid-year are required to pay community tax.

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    Drill Problems - Community Tax:: Mr. Lafa Mrs. Lafa

    Uploaded by

    RealEXcellence
    731 views2 pages
    The document discusses community tax in the Philippines. It provides examples of community tax calculations for individuals and corporations based on income earned and property values. It also covers rules around community tax exemptions, additional payments, and due dates. The maximum additional community tax an individual and corporation can pay is P5,005 and P10,005 respectively. Aliens residing most of the year in the Philippines and those who lose exemption benefits mid-year are required to pay community tax.

    Original Description:

    Illustrative handouts for Community Tax

    Original Title

    Tax #23 - Community Tax

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    The document discusses community tax in the Philippines. It provides examples of community tax calculations for individuals and corporations based on income earned and property values. It also covers rules around community tax exemptions, additional payments, and due dates. The maximum additional community tax an individual and corporation can pay is P5,005 and P10,005 respectively. Aliens residing most of the year in the Philippines and those who lose exemption benefits mid-year are required to pay community tax.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    731 views2 pages

    Drill Problems - Community Tax:: Mr. Lafa Mrs. Lafa

    Uploaded by

    RealEXcellence
    The document discusses community tax in the Philippines. It provides examples of community tax calculations for individuals and corporations based on income earned and property values. It also covers rules around community tax exemptions, additional payments, and due dates. The maximum additional community tax an individual and corporation can pay is P5,005 and P10,005 respectively. Aliens residing most of the year in the Philippines and those who lose exemption benefits mid-year are required to pay community tax.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Community Tax

    DRILL PROBLEMS – COMMUNITY TAX:


    1. Non-payment of the following is not a ground for imprisonment
    a. Income tax c. Community tax
    b. Value-Added Tax d. Donor’s tax

    2. Which statement is correct?


    I. Aliens who have stayed in the Philippines most of the time during the taxable year are required to pay
    community tax in the Philippines
    II. If a person loses the benefit of exemption on June 20 of the current year, he shall be liable for the
    community tax on that same day
    III. For purposes of community tax, general professional partnership are taxable as a corporation
    a. All are correct c. Only I and II are correct
    b. Only I and III are incorrect d. Only the second is correct

    3. The maximum additional community tax payable by an individual and a corporation, respectively is
    a. P5,000; P10,000 c. P5,005; P10,200
    b. P5,005; P10,005 d. P5,005; P10,500

    4. An exempt individual may secure community tax certificate by paying


    a. P5.00 c. P10.00
    b. P1.00 d. None

    5. Payments of community tax is required to inhabitants of the Philippines whose age is at least
    a. 15 c. 21
    b. 18 d. 24

    6. Drill: Compute the community tax under each of the following cases.

    A. Mr. Douglas Alboria earned P800,000 salaries last year. __________

    B. Mr. Douglas is unemployed resident who has a vacant lot valued at P300,000. ___________

    C. Mr. Douglas Alboria earned the following income last year:

    Salaries P 800,000
    Income from profession 785,800
    Rental income from properties 482,900

    ____________

    D. Assume Mr. Douglas earned P6,874,800 in the preceding year. ______________

    E. Mr. and Mrs. Lafa are both employed. Mr. Lafa is also medical practitioner while Mrs. Lafa owns a beauty
    saloon. The following relates to the details of the income of the spouses.

    Mr. Lafa Mrs. Lafa


    Salaries P 400,000 P 420,000
    Income from profession 3,200,000
    Income from business 2,400,000
    Community Tax

    Mr. Lafa opted to pay the additional community tax.

    Mr. Lafa _________________ Mrs. Lafa ________________

    F. A partnership which is engaged in selling shoes had the following revenue last year:

    Sales (P7.2M collected in cash) P 8,000,000


    Less: Cost of sales 5,000,000
    Gross income P 3,000,000
    Interest income from client notes 50,000
    Dividend income 214,000
    Gain on sale of equipment 100,000
    Total income P 3,364,000
    Less: Expenses 1,500,000
    Net income P 1,864,000

    _______________

    G. ABC Corporation is engaged in property leasing. Last year, it collected P3,489,000 rentals from various
    tenants from its commercial building. Last year’s valuation of the building are compiled below:

    Land Building Total


    Appraisal value P 4,000,000 P 4,500,0000 P 8,500,000
    Zonal value 5,000,000 - 5,000,000
    Assessed value 1,218,000 1,415,000 2,633,000

    _______________

    H. Adonis Company, a domestic corporation, had the following receipts from business and property values:

    Philippines Abroad Total


    Gross receipts P 3,000,000 P 2,500,0000 P 5,500,000
    Value of lands and buildings 12,000,000 8,000,000 20,000,000
    Value of equipment 3,200,000 2,400,000 5,600,000

    _______________

    I. Megaworld Corporation, a real estate company, had a total assessed value of land in the previous year
    aggregating P30,000,000. _____________

    J. A corporation with total real estate properties assessed value aggregating P14,000,000 started operation on
    January 2 of the year. _____________

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