1.Determine the business tax applicable for the following independent assumptions. Put a check mark on the applicable law. Put the applicable tax rate. Situation OLD LAW TRAIN LAW CREATE LAW GS/GR does not exceed P1,919,500 and the taxpayer is VAT-registered GS/GR exceed P1,919,500 and the taxpayer is VAT-registered GS/GR exceed P1,919,500 and the taxpayer is not VAT- registered GS/GR does not exceed P3,000,000 and the taxpayer is VAT-registered GS/GR exceed P3,000,000 and the taxpayer is VAT-registered GS/GR exceed P3,000,000 and the taxpayer is not VAT- registered GS/GR does not exceed P3,000,000 and the taxpayer is not VAT-registered; taxpayer opted to use 8% preferential income tax on individuals Cooperatives Self-Employed and Professionals with Annual Gross Sales/Gross Receipts not exceeding P500,000
1.Determine the business tax applicable for the following independent assumptions. Put a check mark on the applicable law. Put the applicable tax rate. Situation OLD LAW TRAIN LAW CREATE LAW GS/GR does not exceed P1,919,500 and the taxpayer is VAT-registered GS/GR exceed P1,919,500 and the taxpayer is VAT-registered GS/GR exceed P1,919,500 and the taxpayer is not VAT- registered GS/GR does not exceed P3,000,000 and the taxpayer is VAT-registered GS/GR exceed P3,000,000 and the taxpayer is VAT-registered GS/GR exceed P3,000,000 and the taxpayer is not VAT- registered GS/GR does not exceed P3,000,000 and the taxpayer is not VAT-registered; taxpayer opted to use 8% preferential income tax on individuals Cooperatives Self-Employed and Professionals with Annual Gross Sales/Gross Receipts not exceeding P500,000
Chapter15: Taxing Business Income
Section: Chapter Questions
Problem 4BCRQ
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| 1.Determine the business tax applicable for the following independent assumptions. Put a check mark on the applicable law. Put the applicable tax rate. | |||
| Situation | OLD LAW | TRAIN LAW | CREATE LAW |
| GS/GR does not exceed P1,919,500 and the taxpayer is VAT-registered |
|||
| GS/GR exceed P1,919,500 and the taxpayer is VAT-registered |
|||
|
GS/GR exceed P1,919,500 and the taxpayer is not VAT- |
|||
| GS/GR does not exceed P3,000,000 and the taxpayer is VAT-registered |
|||
| GS/GR exceed P3,000,000 and the taxpayer is VAT-registered |
|||
|
GS/GR exceed P3,000,000 and the taxpayer is not VAT- |
|||
| GS/GR does not exceed P3,000,000 and the taxpayer is not VAT-registered; taxpayer opted to use 8% preferential income tax on individuals |
|||
| Cooperatives | |||
|
Self-Employed and |
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