Compute for the Income tax Given: Taxpayer is a proprietary educational institution. Taxable period is 2021. Financial data: Related Activities Unrelated Activities Gross Income P 15,000,000 P 25,000,000 Expenses 5,000,000 11,000,000 Net 10,000,000 14,000,000 A. P140,000 B. P240,000 C. P3,500,000 D. P6,000,000

Compute for the Income tax Given: Taxpayer is a proprietary educational institution. Taxable period is 2021. Financial data: Related Activities Unrelated Activities Gross Income P 15,000,000 P 25,000,000 Expenses 5,000,000 11,000,000 Net 10,000,000 14,000,000 A. P140,000 B. P240,000 C. P3,500,000 D. P6,000,000

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 1BCRQ

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