How much is the total income tax expense of Ana for the year? *
Ana, a self-employed resident citizen provided the following data for 2018 taxable year:
Sales P2,800,000
Cost of sales 1,125,000
Business expenses 650,000
Interest income from peso bank deposit 80,000
Interest income from bank
deposit under FCDS 120,000
Gain on sale of land in the Philippines held as
capital asset with cost P1.5M
when zonal is P1.2M 500,000
How much is the total income tax expense of Ana for the year? *
P342,500
P321,500
P358,000
P351,500
How much is the total income tax of Ana assuming she opted to be taxed at 8%? *
P321,500
P358,000
P342,500
P351,500
Assuming Ana is a VAT-registered taxpayer, how much is her total income tax expense assuming she opted to be taxed at 8% income tax rate? *
P342,500
P351,500
P321,500
P358,000
Using the same date except that her gross sales for the year was P3.8M, how much is her total income tax expense assuming she opted to be taxed at 8% income tax rate? *
P351,500
P321,500
P342,500
P652,000
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