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Taxation
Taxation of
Individuals
I.
Citizen
a. Resident
b. Non-Resident
II. Alien
a. Resident
b. Non-Resident
Citizen
i.
Citizen
ALIEN
Sources of Income
Individual
Source of Income
Within
Resident Citizen
Non-Resident
Citizen
Resident Alien
Non-Resident
Alien
Without
ALLOWABLE DEDUCTIONS
PERSONAL EXEMPTION
BASIC PERSONAL
EXEMPTION
ADDITIONAL EXEMPTION
ADDITIONAL EXEMPTION
Requisites for Additional Exemption:
Legitimate, illegitimate or legally adopted
child
Chiefly dependent upon the taxpayer
Living with the taxpayer
Not more than twenty-one (21) years of age
Unmarried
Not gainfully employed
Rules on Change of
Status
1. If the employee
should have additional
1.Citizens
2.Resident alien
3.Non-resident Alien Engaged in
Trade and Business in the
Philippines (only basic)
PREMIUM PAYMENTS ON
HEALTH AND/OR
HOSPITALIZATION INSURANCE
Conditions that must be met:
PREMIUM PAYMENTS ON
HEALTH AND/OR
HOSPITALIZATION INSURANCE
Conditions that must be met:
PREMIUM PAYMENTS ON
HEALTH AND/OR
HOSPITALIZATION INSURANCE
Mae Ann, single mother, is a government
employee who earns a monthly gross
compensation income of P18,000. She took
a hospitalization insurance for her and her
2-year old son. She right away paid the
annual premium of P2,400. However, had
she opted to pay this premium monthly, an
additional P50 per month is charged.
SOLVE THIS:
Mr. Binice, the taxpayer, is married, with
6 qualified dependent children. The
following data are available:
Gross Compensation Income
P240,000
Premium payment on health insurance
P10,000