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- 1. Multiple Choice
The following are passive income that are subject to final taxation, EXCEPT:
Interest income
Stock dividend income
Royalties
Lotto Winnings
- 2. Multiple Choice
What is the general rate if the taxpayer is NRA-NETB?
10%
15%
20%
25%
- 3. Multiple Choice
Under interest income, what is the rate for individuals if the sources of their interest income is from long-term deposits?
15%
20%
25%
Exempt
- 4. Multiple Choice
Under interest income, what is the rate for corporations if the sources of their interest income is from short-term deposits?
15%
20%
25%
Exempt
- 5. Multiple Choice
Under interest income, the general final tax rate for NRA-NETB is
15%
20%
25%
30%
- 6. Multiple Choice
Under interest income, the general final tax rate for Non Resident Foreign Corporation is
15%
20%
25%
30%
- 7. Multiple Choice
The following are the tax rates on pre-termination of long-term deposits of individuals, which of the following is WRONG:
Less than 3 years - 25%
3 years to less than 4 years - 12%
4 years to less than 5 years - 5%
5 years or more - 0%
- 8. Multiple Choice
Under interest income, if the bank account is jointly in the name of a non-resident and a resident taxpayer, 50% of the interest shall be exempt while the other 50% shall be subject to the 15% final tax.
True
False
- 9. Multiple Choice
Under dividend tax rules, the final tax rate of an individuals (RC, NRC, RA) is 20%?
True
False
- 10. Multiple Choice
Under dividend tax rules, the final tax rate of NRA-ETB (Non-resident alien ENGAGED in trade or business) is _____.
10%
20%
25%
Exempt
- 11. Multiple Choice
The final tax rate for Royalty income from literary works is ____.
10%
15%
20%
25%
- 12. Multiple Choice
Which of the following prizes is included in the exemption on final tax?
Prizes from cockfighting in baranggay
Prizes from swimming competition in school intramurals
Prizes from national sports competition
Prizes from singing contest in a musical competition
- 13. Multiple Choice
The final tax rate of prizes more than P10,000 if the taxpayer is a resident citizen is
10%
15%
20%
25%
- 14. Multiple Choice
The tax rules on PCSO or lotto winnings shall be applied on ________.
per ticket basis
per register basis
per amount basis
per location basis
- 15. Multiple Choice
Which of the following statements is TRUE?
Winnings with not more than P10,000, all of the taxpayers is exempted from final tax
Winnings with not more than P10,000, NRA-ET's final tax rate is 25%
Winnings with not more than P10,000, all of the taxpayers is exempted from final tax, except NRA-NETB in which final tax rate is 25%.
Winnings with not more than P10,000, NRA-ETB is the only exempt in the final tax.
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