Intax Quiz 10
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BLACKPINKLisaRoseJisooJennieIntax Quiz 10
Uploaded by
BLACKPINKLisaRoseJisooJennieInTax Quiz 10
1. Lapu-lapu is a Filipino immigrant living in the United States for more than 10 years. He is retired and he came
back to the Philippines as a balikbayan. Every time he comes to the Philippines, he stays here for about a month. He
regularly receives a pension from his former employer in the United States, amounting to USD1,000 a month. While
in the Philippines, with his pension pay from his former employer, he purchased 3 condominium units in Quezon
City, which he is renting out for
P15,000 a month each. Does the USD1,000 pension become taxable because
he is now in the Philippines?
a. Yes. Income received in the Philippines by non-resident citizens is taxable.
b. Yes. Income received in the Philippines or abroad by non-resident citizens is taxable.
c. No. Income earned abroad by non-resident citizens is no longer taxable in the Philippines.
d. No, the pension is exempt from taxation being one of the exclusions from gross income.
2. Which of the following shall be allowed as a deduction from the gross income?
a. Depreciation for vehicle for land transport used for personal purposes the value of which does not exceed
P2,400,000.
b. Depreciation for vehicle for land transport used in the business the value of which exceeds P2,400,000.
c. Depreciation for land vehicles the value of which exceeds P2,400,000 where the taxpayer’s main line of
business is transport operations or lease of transportation equipment and the vehicles purchased are used in
said operations.
d. Depreciation for airplanes and/or aircraft the value of which exceeds P2,400,000 where the taxpayer’s main line
of business is sale of goods or properties and the vehicles purchased are used in said operations.
3. Mr. Taguro, a non-resident alien stockholder, receives a dividend income of P300,000 in 2012 from a foreign
corporation doing business in the Philippines. The gross income of the foreign corporation from within and without
the Philippines for three years preceding 2012 are as follows:
2009 2010 2012
From w/in the Philippines P16,000,000 P12,000,000 P14,000,000
From without the Philippines 18,000,000 14,000,000 16,000,000
How much of the dividend income received by Mr. Taguro is considered income from sources within the
Philippines?
a. Zero b. P150,000 c. P270,000 d. P300,000
4. Mobile Legends is the operator of League of Legends Coliseum. During the month, it had the following gross
receipts from various activities, to wit:
I. Concert by S.T.U.N. P85,000
II. K/DA’s comeback 120,000
III. Amateur basketball games 36,700
IV. Billiards 45,000
The percentage tax payable by Mobile Legends on the Coliseum is:
a. P18,000 c. P24,750
b. P23,505 d. P43,005
120,000 x 15% = 18,000
9. The spouses Lesley and Gusion wanted to donate a parcel of land to their son Lession who is getting married in
December, 2016. The parcel of land has a zonal valuation of P420,000.00. What is the most efficient mode of
donating the property?
a. The spouses should first donate in 2016 a portion of the property valued at P20,000, then spread the P400,000
equally for 2017, 2018, 2019 and 2020.
b. Spread the donation over a period of 5 years by the spouses donating P100,000 each year from 2016 to 2020.
c. The spouses should each donate a P110,000 portion of the value of the property in 2016 then each
should donate P100,000 in 2017.
d. The spouses should each donate a P100,000 portion of the value of the property in 2016, and another P100,000
each in 2017. Then, in 2018, Esme should donate the remaining P20,000.
