Corporation reported the following gross income and expenses: Gross income in the Philippines is 38,000,000 while deductions is 15,000,000 for a total taxable income of 23,000,000. Outside the Philippines, the gross income is 14,000,000 while the deduction is 3,000,000 for a total taxable income of 11,000,000. Compute the income tax due for 2021 if XYZ is a private proprietary educational institution. P3,400,000 P10,200,000 P8,500,000 P340,000
Corporation reported the following gross income and expenses: Gross income in the Philippines is 38,000,000 while deductions is 15,000,000 for a total taxable income of 23,000,000. Outside the Philippines, the gross income is 14,000,000 while the deduction is 3,000,000 for a total taxable income of 11,000,000. Compute the income tax due for 2021 if XYZ is a private proprietary educational institution. P3,400,000 P10,200,000 P8,500,000 P340,000
Chapter25: Taxation Of International Transact Ions
Section: Chapter Questions
Problem 30P
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5. XYZ Corporation reported the following gross income and expenses:
Gross income in the Philippines is 38,000,000 while deductions is 15,000,000 for a total taxable income of 23,000,000. Outside the Philippines, the gross income is 14,000,000 while the deduction is 3,000,000 for a total taxable income of 11,000,000.
Compute the income tax due for 2021 if XYZ is a private proprietary educational institution.
P3,400,000
P10,200,000
P8,500,000
P340,000
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