GIVEN:Taxpayer is a proprietary educational institution.Taxable period is 2021.• Financial data:RelatedUnrelatedActivitiesActivitiesP15,000,000 P25,000,00011,000,00014,000,000Gross IncomeExpensesNetCOMPUTE: Income tax5,000,00010,000,000A. P140,000B. P240,000C. P3,500,000O D. P6,000,000O O

Income Tax: - Income Tax is the tax that is imposed by the government on the income generated by a…

GIVEN: Taxpayer is a proprietary educational institution. Taxable period is 2021. • Financial data: Related Unrelated Activities Activities Gross Income Expenses Net COMPUTE: Income tax P15,000,000 5,000,000 10,000,000 P25,000,000 11,000,000 14,000,000 O A. P140,000 B. P240,000 С. Р3,500,000 D. P6,000,000

GIVEN: Taxpayer is a proprietary educational institution. Taxable period is 2021. • Financial data: Related Unrelated Activities Activities Gross Income Expenses Net COMPUTE: Income tax P15,000,000 5,000,000 10,000,000 P25,000,000 11,000,000 14,000,000 O A. P140,000 B. P240,000 С. Р3,500,000 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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GIVEN: Taxpayer is a PEZA-registered enterprise • Taxable year is 2021 • Financial data Related Unrelated Activities Activities Gross Income Expenses Net P45,000,000 P15,000,000 20,000,000 25,000,000 6,000,000 9,000,000 COMPUTE: Tax on the income O A. P1,700,000 В. Р2,250,000 О С. Р3,000,000 O D. P4,500,000 ООО
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