T-registered taxpayer with gross sales of Php 1 Million is qualified to avail 8% taxation. S2: Inday, a partner in a general professional partnership, can use 8% taxation provided his share in the income of the partnership shall not exceed Php 3 Million. S3: If a taxpayer opted 8%, he is required to pay percentage tax. S4: Estates and trusts are n
T-registered taxpayer with gross sales of Php 1 Million is qualified to avail 8% taxation. S2: Inday, a partner in a general professional partnership, can use 8% taxation provided his share in the income of the partnership shall not exceed Php 3 Million. S3: If a taxpayer opted 8%, he is required to pay percentage tax. S4: Estates and trusts are n
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 47P
Related questions
Question
4.
Which is TRUE in 8% preferential tax?
S1: Nicanor, a VAT-registered taxpayer with gross sales of Php 1 Million is qualified to avail 8%
S2: Inday, a partner in a general professional partnership, can use 8% taxation provided his share in the income of the partnership shall not exceed Php 3 Million.
S3: If a taxpayer opted 8%, he is required to pay percentage tax.
S4: Estates and trusts are not allowed to use 8% preferential tax.
Group of answer choices
d. S1 only
c. S1, S2 and S4 only
b. S1 and S4
e. All is false
a. S4 only
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT