An offshore banking unit had the following offshore banking transactions within the Philippines during the taxable quarter ending September 30, 2021: With local commercial banks- P3,850,000 With domestic corporations - P3,400,000 With other offshore banking units- P4,700,000 If the offshore banking unit can claim allowable deduction of P2,830,000, how much is the offshore banking unit’s income tax due?
An offshore banking unit had the following offshore banking transactions within the Philippines during the taxable quarter ending September 30, 2021: With local commercial banks- P3,850,000 With domestic corporations - P3,400,000 With other offshore banking units- P4,700,000 If the offshore banking unit can claim allowable deduction of P2,830,000, how much is the offshore banking unit’s income tax due?
Chapter25: Taxation Of International Transact Ions
Section: Chapter Questions
Problem 32P
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An offshore banking unit had the following offshore banking transactions within the Philippines during the taxable quarter ending September 30, 2021:
With local commercial banks- P3,850,000
With domestic corporations - P3,400,000
With other offshore banking units- P4,700,000
If the offshore banking unit can claim allowable deduction of P2,830,000, how much is the offshore banking unit’s income tax due?
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