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An international air carrier doing business in the Philippines shall be subject to I.      3% percentage tax on gross receipts in the Philippines only, from their passenger and cargo operations. II.      3% common carrier's tax on gross receipts from transport of cargoes in the Philippines only Group of answer choices

An international air carrier doing business in the Philippines shall be subject to I.      3% percentage tax on gross receipts in the Philippines only, from their passenger and cargo operations. II.      3% common carrier's tax on gross receipts from transport of cargoes in the Philippines only Group of answer choices

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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An international air carrier doing business in the Philippines shall be subject to
I.      3% percentage tax on gross receipts in the Philippines only, from their passenger and cargo operations.
II.      3% common carrier's tax on gross receipts from transport of cargoes in the Philippines only
Group of answer choices
Both I and II
Either I or II
II only
I only
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