Suppose a registered business enterprise is already subject to the 5% special corporate income tax. During the year, it had sales of P40,000,000, direct cost of P22,000,000, and operating expenses of P7,500,000. Calculate the 5% SCIT.

Suppose a registered business enterprise is already subject to the 5% special corporate income tax. During the year, it had sales of P40,000,000, direct cost of P22,000,000, and operating expenses of P7,500,000. Calculate the 5% SCIT.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter17: Corporations: Introduction And Operating Rules

Section: Chapter Questions

Problem 1BCRQ

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