China Airlines Inc., a resident foreign corporation, has the following data for the taxable year 2x18: Passengers airfare from China to the Philippines P 1,800,000 Passengers airfare from the Philippines to China 1,500,000 Airfare for cargoes from China to the Philippines 700,000 Airfare for cargoes from the Philippines to China 1,300,000 Compute the income tax payable.

China Airlines Inc., a resident foreign corporation, has the following data for the taxable year 2x18: Passengers airfare from China to the Philippines P 1,800,000 Passengers airfare from the Philippines to China 1,500,000 Airfare for cargoes from China to the Philippines 700,000 Airfare for cargoes from the Philippines to China 1,300,000 Compute the income tax payable.

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 18P

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