Based on the below data, answer as required: WITHIN OUTSIDE Gross Income P8,000,000 P4,000,000 Business Expenses 5,000,000 3,000,000 Sale of land and warehouse (cost P2M) 3,000,000 A. If X is a domestic corporation, how much is the taxable income and income tax due in the Philippines per annual ITR? B. If X is a resident foreign corporation, how much is the taxable income and income tax due in the Philippines per annual ITR?
Based on the below data, answer as required: WITHIN OUTSIDE Gross Income P8,000,000 P4,000,000 Business Expenses 5,000,000 3,000,000 Sale of land and warehouse (cost P2M) 3,000,000 A. If X is a domestic corporation, how much is the taxable income and income tax due in the Philippines per annual ITR? B. If X is a resident foreign corporation, how much is the taxable income and income tax due in the Philippines per annual ITR?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
- Based on the below data, answer as required:
|
|
WITHIN |
OUTSIDE |
|
Gross Income |
P8,000,000 |
P4,000,000 |
|
Business Expenses |
5,000,000 |
3,000,000 |
|
Sale of land and warehouse (cost P2M) |
3,000,000 |
|
A. If X is a domestic corporation, how much is the taxable income and income tax due in the Philippines per annual ITR?
B. If X is a resident foreign corporation, how much is the taxable income and income tax due in the Philippines per annual ITR?
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