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3 which is not an item of gross income subject to

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3. Which is not an item of grossincome subject to final tax?employee4. Which of these employee benefitsis subject to final tax?C. Taxes collected by the government6. Whichis an income exempt from income tax?D. Capital gain from sale of real propertylocated in the Philippines7. All of these aresubject to regular income tax, exceptB. Income of qualified pension plans8. Which isexempt from regular tax?9. Which item of gross income is not subject toregular tax?B. Capital gain on the sale of bondswith more than 5 years maturity10. Which is not part of compensation incomesubject to regular tax?C. Portion of salarycontributed to SSS11. Which is included in the gross incomesubject to regular tax of resident aliensB.Interest income from promissory notes ofresident alien?12. Which of the following deductions fromgross compensation income is included as partof gross income subject to regular tax?D. Dueswithholding tax13. Which interest income is subject to regulartax?D. All of these14. Dividends subject to regular tax includesA.Foreign Dividends15. Statement 1: All prizes earned abroad aresubject to regular tax. Statement 2: All prizes inthe Philippines are subject to final tax. Whichstatement is generally correct?A. Statement 117. Which of the following is not subject toregular tax of a domestic abroad exempt18. Which is subject to regular tax to a non-resident foreign corporation or non-residentalien not engaged in trade or business?
19. Which is subject to regular tax to a residentforeign corporation?B. Gain from sale of realproperty capital assets in the Philippines20. The proceeds of life insurance received bythe wife of the insured isA. Exempt fromincome tax21. Which of the following will not be reportedin gross income?A. Receipt inheritance22. Which is not reportable type of grossincome?D. Capital gains from the sale ofdomestic stocks through the PSE23. Which of the following is included in grossincome subject to regular tax?D. Farmingincome24. All income earned abroad that wouldotherwise be subject to final taxes if earnedwithin the Philippines shall be subject toprogressive tax of aB. Resident citizen25. All items of passive income earned abroadare subject to regular tax toC. A residentcitizens and domestic corporations26. Which individual taxpayer is not subject toprogressive tax?B. Special aliens27. Which corporate taxpayer is not subject toregular tax? D. Non-resident foreign corporation28. Individual taxpayers shall report theirincome onB. A calendar year29. Corporations are allowed to report theirincome onC. Either fiscal year or calendar year30. Which is not subject to progressive tax to anindividual taxpayer?C. Amounts received by theinsured in excess of premiums paid31. Which of these is subject to Philippineregular income tax to a foreigner?

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Term
Fall
Professor
NoProfessor
Tags
Taxation in the United States

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