8. CCC is a Filipino CPA and owner of DDD Accounting Services. DDD Accounting Services is a VAT registed company. During the year, he reported an annual business income Philippines of P2,000,000, Business Income Abroad of P500,000 and allowed deduction Philippines, P400,000 Allowed deduction Abroad of P100,000 and non deductible business expenses Philippines of P60,000. Compute the basic income tax due.
8. CCC is a Filipino CPA and owner of DDD Accounting Services. DDD Accounting Services is a VAT registed company. During the year, he reported an annual business income Philippines of P2,000,000, Business Income Abroad of P500,000 and allowed deduction Philippines, P400,000 Allowed deduction Abroad of P100,000 and non deductible business expenses Philippines of P60,000. Compute the basic income tax due.
Chapter18: Accounting Periods And Methods
Section: Chapter Questions
Problem 9DQ: LO.2 Osprey Corporation, an accrual basis taxpayer, had taxable income for 2019 and paid 40,000 on...
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Please answer numbers 8 to 10 only.
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