4. Fly Away Air Lines (a resident international carrier) has the following data for the current year: P 10,000,000 Gross receipts, Philippines (passenger operations) Gross receipts, Philippines (cargo operations) Gross receipts, Japan (passenger operations) Gross receipts, Japan (cargo operations) Expenses, Philippines (cargo operations) Expenses, Japan (cargo operations) 6,000,000 8,000,000 5,000,000 4,500,000 1,250,000 Required: Determine the following: a The business tax due for the year. SelutTon 6,000,000 x 3% = 180,000 b. Income tax due for the year.

4. Fly Away Air Lines (a resident international carrier) has the following data for the current year: P 10,000,000 Gross receipts, Philippines (passenger operations) Gross receipts, Philippines (cargo operations) Gross receipts, Japan (passenger operations) Gross receipts, Japan (cargo operations) Expenses, Philippines (cargo operations) Expenses, Japan (cargo operations) 6,000,000 8,000,000 5,000,000 4,500,000 1,250,000 Required: Determine the following: a The business tax due for the year. SelutTon 6,000,000 x 3% = 180,000 b. Income tax due for the year.

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

Chapter10: Measuring Exposure To Exchange Rate Fluctuations

Section: Chapter Questions

Problem 34QA

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