PROBLEM SOLVING (SHOW YOUR SOLUTION
1. Ana u self employed resident citizen provided the following data for 2018 taxable year
Sales
Cost of sales
Business Expenses
Interest income from peso bank deposit
Interest income from bank deposit under FCDS
Gain on sale of land in the Philippines held as capital asset with cost of
P1,500,000 when the zonal value is PI 200.000
P2.800.000
1.125.000
650.000
80,000
120.000
500.000
REQUIREMENTS
"TOTAL INCOME EXPENSE OF ANA FOR THE YEAR
TOTAL INCOME TAX OF ANA ASSUMING SHE OPTED TO BE TAXED AT 8%
ASSUMING ANA IS A VAT-REGISTERED TAXPAYER. HOW MUCH IS HER TOTAL INCOME
TAX EXPENSE ASSUMING SHE OPTED TO BE TAXED AT 8°. INCOME TAX RATE
2. Bryan sold the following shares of slack of domestie corporations which he bought for investment purposes.
Selling price
Selling expense
Cost
Listed and Traded
350.000
12,000
118 000
Not Listed and Traded
143,680
3,680
80,000
Requirements
3. Determine the capital gains tax.
b. Determine Bryan's total income tax expense​