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Which is covered by final tax a interest income from

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16. Which is covered by final tax?A. Interest income from foreign banks
B. P10,000 taxable prizes from the PhilippinesC. Share in the net income of a joint ventureD. Share in the net income of a general professional partnershipC. Share in the net income of a joint venture17. Which is not subject to 20% final tax?A. Interest income from trust fundsB. P11,000 worthof prizesC. WinningsD. Royalties from musical compositionsD. Royalties from musical compositions18. Which is not a subject to 10% final tax?A. Royalties from a business trademarkB. Royalties from literary worksC. Dividends from a domestic corporationD. Share in the net income of a business partnershipA. Royalties from a business trademark19. Which of the following is taxable?A. Prize on sports competitions sanctioned by the national sportsorganizationB. Nobel prizeC. Prize from dance competition abroadD. Any prize received without effortC. Prize from dance competition abroad20. Which winning is exemptfrom final tax?A.winnings exceeding P10,000B. Winnings not exceeding P10,000C. Winnings from illegal gamblingD. None of theseD. None of these21. Prizes from sources abroad is subject to final taxA. If the amount of prizes exceeds P10,000B. If the amount of prizes does not exceed P10,000C. If it is given to the taxpayer without effortD. Under no circumstancesD. Under no circumstances22. The following winnings are exempt feom tax , except one. Which isthe exception?A. Lotto winningsB. PCSO winngingsC. Jueteng winningsD. All of theseC. Jueteng winnings23. Which of the following is exempt from final tax?A. Interest income earned by a bank from deposits in another bankB. Interest income earned by a bank from lending activitiesC. Royalties from booksD. All of theseC. Royalties from books
24. Dividend income from domestic corporations is subject to final taxeffectiveA. 1997B. 1998C. 1999D. 2000B. 199825. Prizes arising from sources within the Philippines may beA. Subject to final taxB. Subject to regular taxC. Exempt from taxD. Exempt or subject to final tax or regular taxD. Exempt or subject to final tax or regular tax26. Any royalties earned abroad by a non-resident corporation isA. Always subject to final taxB. Subject to either final tax or regular taxC. Always subject to regular taxD. Not subject to Philippine income taxD. Not subject to Philippine income tax

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