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7 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Taxable Income |
Income subject to the final withholding tax rates provided by law. -Fringe Benefit - Passive Income |
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Non-Taxable Income |
Income which are excluded expressly from gross compensation income and gross income under the NIRC and other special laws. |
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Taxable Income Non-Taxable Income |
Classifications of Income |
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Compensation, Fringe Benefit, Business Income, Passive Income-Individual, Domestic, Resident Foreign and Non-Resident Foreign |
List the taxable income |
CFBP |
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Proceeds of Life Insurance Return of premium Gifts, bequests and devises Income exempt under a treaty Retirement benefits, pensions and other gratuities Reasonable private benefit plan Separation Pay Veterans, SSS and GSIS benefits Miscellaneous Income |
List the Non-Taxable Incomes |
RSVPGRIMR |
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Interests Dividends Rentals and Royalties Gains or profits from dealing in properties |
List Passive Income |
GRID |
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Individual Partnership Corporation Estates and Trusts |
Classification of Taxpayers |
EPIC |
