Beneco is a holder of franchise to distribute and sell electricity. In a particular quarter, its gross receipts amounted to P2,000,000 from distribution and sale of electricity. It has also receipts from the lease of its auditorium and theater amounting to P600,000. The value-added tax or percentage tax due for the quarter is
Beneco is a holder of franchise to distribute and sell electricity. In a particular quarter, its gross receipts amounted to P2,000,000 from distribution and sale of electricity. It has also receipts from the lease of its auditorium and theater amounting to P600,000. The value-added tax or percentage tax due for the quarter is
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 19P
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Question
Beneco is a holder of franchise to distribute and sell electricity. In a particular quarter, its gross receipts amounted to P2,000,000 from distribution and sale of electricity. It has also receipts from the lease of its auditorium and theater amounting to P600,000.
The value-added tax or percentage tax due for the quarter is
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