Mr. Sia is working as a freelance professional in SDN Corporation. He is earning professional fees amounting to Php60,000.00 per month and is a Non-VAT registered. a. During the filing of his First Quarter Income Tax Return, which method of computing income tax is more advantageous? Justify your answer. b. During the filing of his Annual Income Tax Return, which method of computing income tax is more advantageous? Justify your answer.
Mr. Sia is working as a freelance professional in SDN Corporation. He is earning professional fees amounting to Php60,000.00 per month and is a Non-VAT registered. a. During the filing of his First Quarter Income Tax Return, which method of computing income tax is more advantageous? Justify your answer. b. During the filing of his Annual Income Tax Return, which method of computing income tax is more advantageous? Justify your answer.
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 18CE
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Mr. Sia is working as a freelance professional in SDN Corporation. He is earning professional fees amounting to Php60,000.00 per month and is a Non-VAT registered.
a. During the filing of his First Quarter Income Tax Return, which method of computing income tax is more advantageous? Justify your answer.
b. During the filing of his Annual Income Tax Return, which method of computing income tax is more advantageous? Justify your answer.
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