BUISENESS MANAGEMENT
TAXES
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Which of the following is included in the Gross Philippine Billings for income tax purposes of an international air carrier:I. Tickets sold outside the Philippines for passengers originating from outside in the Philippines.II. Tickets sold in the Philippines for passengers originating from the Philippines but are not actually flown.III. Passage documents sold outside the Philippines for excess baggage originating from the Philippines.IV. Passage documents sold in the Philippines for cargoes originating from outside the Philippines.
|
|
II only
|
|
|
III only
|
|
|
II and IV only
|
|
|
I, II, III and IV
|
Explanation:
Detailed explanation-1: -Compensation for services, in whatever form paid, including but not limited to fees, salaries, wages, commissions and similar items. Gross income derived from the conduct of trade or business or the exercise of profession. Gains derived from dealings in property.
Detailed explanation-2: -At present, international air and shipping carriers in the country are subject to the Gross Philippine Billings Tax (GPBT) and the Common Carriers Tax (CCT). There are now proposals seeking the abolition of the said taxes.
Detailed explanation-3: -A non-resident citizen is taxable on income derived from sources within the Philippines only.
There is 1 question to complete.