ABC Corporation has the following data for the 2019: Gross Income, Philippines P2,500,000 Expenses, Philippines 1,000,000 Gross Income, Japan 1,500,000 800,000 Expenses, Japan Interest on bank deposits, Philippines How much is the income tax due if ABC Corporation is a foreign corporation with no branch or office in the Philippines? 20,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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ABC Corporation has the following data for the 2019:
Gross Income, Philippines
P2,500,000
1,000,000
1,500,000
800,000
Expenses, Philippines
Gross Income, Japan
Expenses, Japan
Interest on bank deposits, Philippines
How much is the income tax due if ABC Corporation is a foreign
corporation with no branch or office in the Philippines?
O P756,000
OP664,000
O P660,000
OP450,000
20,000
K
Transcribed Image Text:ABC Corporation has the following data for the 2019: Gross Income, Philippines P2,500,000 1,000,000 1,500,000 800,000 Expenses, Philippines Gross Income, Japan Expenses, Japan Interest on bank deposits, Philippines How much is the income tax due if ABC Corporation is a foreign corporation with no branch or office in the Philippines? O P756,000 OP664,000 O P660,000 OP450,000 20,000 K
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