3. Computation of income tax. Simple Corporation, a corporation engaged in the business of manufacturing ready-to-wear clothes, gives you the data of its operation during the current year: P 3,000,000 7,000,000 Sales (domestic) Sales (abroad) Cost of goods sold (domestic and abroad) 5,000,000 Yield from depoşit substitute Expenses on domestic operation Expenses on sales abroad 400,000 1,000,000 2,000,000

Qalvin Corporation, a MSME, reported the following gross income and expenses in 2022:                                Philippines          Abroad          Total Gross income     P400,000         P300,000      P700,000 Deductions            200,000           150,000         350,000 Taxable income  P200,000        P150,000     P350,000                    Compute the income tax due if Qalvin is an non-resident owner or lessor of vessels   Qalvin Corporation, a MSME, reported the following in 2023: in 2022:                                    Philippines        Abroad           Total Gross income          P500,000         P200,000      P500,000 Direct Deductions     200,000            300,000        500,000 Common Expenses                                                   150,000 Compute the income tax due if Qalvin is a resident foreign corporation

I'm from the Philippines

A non-U.S. corporation investor held a real estate asset (a parcel of land) that that was purchased for $100,000,000 for 10 years and will sell it for $130,000,000. The investor gain on the sale of the asset is considered to in a business that is effectively connected to a U.S. trade or business (ECI).   Compute the tax on the sale assuming that the investor held the asset directly (consider double tax - both ECI and branch profits tax) __________________   Compute the tax to the investor if held through US corporation (consider both entity level tax and FDAP tax on the distributions) with no treaty rates and a plan of liquidation in the year of sale _______________________

Please help thanks

2. Liang Corporation, a U.S. entity, owns 100% of ForCo, a non-U.S. corporation not engaged in a U.S. trade or business. Is Liang subject to any U.S. income tax on her dealings with ForCo? Explain.

Determine the taxable income for the year. (PHILIPPINES)

I am stuck on the Self-Study Problem 2.9 in 2019 Income Tax Fundamentals.  I am suppose to on #1 enter the amount from form 1040, line 10.  However, if you are filing form 2555 or 2555-ez (relating to foreign earned income), enter the amount from line 3 of the foreign earned income tax worksheet.   There is not a line #10 on the 1040 provided in the book???