Rich Goma Corporation failed to file its income tax return for the fiscal year ending August 31, 2021. On June 6, 2022, it filed an income tax return with a basic tax still due and payable for the fiscal year amounting to P500,000. Compute the interest penalty to be imposed by the BIR. P28,603 P45,873 P28,438 P46,207
Rich Goma Corporation failed to file its income tax return for the fiscal year ending August 31, 2021. On June 6, 2022, it filed an income tax return with a basic tax still due and payable for the fiscal year amounting to P500,000. Compute the interest penalty to be imposed by the BIR. P28,603 P45,873 P28,438 P46,207
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 22P
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Rich Goma Corporation failed to file its income tax return for the fiscal year ending August 31, 2021. On June 6, 2022, it filed an income tax return with a basic tax still due and payable for the fiscal year amounting to P500,000. Compute the interest penalty to be imposed by the BIR.
P28,603
P45,873
P28,438
P46,207
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