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- 54. In relation to transaction #1, How much is the capital gains tax due, if any? A. PO C. P300,000 B. P360,000. D. P450,000D6) If the corporate tax rate in a foreign country is 20%and the tax rate in the home country is 30%, when calculating NPV a.you must account for paying the additional 10% in corporate taxes. b.you do NOT adjust NPV for taxes c.you should account for paying an additional 30% in corporate taxes. d.you should increase the NPV of the project by 10%.25. Yumi Corporation had a total gross income of PHP 4,800,000 and deductible expenses of PHP 3,600,000. If the total asset of the corporation (excluding the land on which the building which houses its office, plant and equipment) is PHP 80,000,000 how much is the income tax due in 2022 assuming Yumi Corporation is a nonresident foreign corporation? a. 330,000 b. 1,200,000 c. 300,000 d. 1,440,000
- Qalvin Corporation, a large corporation, reported the following in 2023: in 2022: Related Unrelated Total Gross income P300,000 P200,000 P500,000 Deductions 100,000 100,000 200,000 Taxable income P200,000 P100,000 P300,000 Compute the income tax due if Qalvin is exempt non-profit corporation Qalvin Corporation, a MSME, reported the following in 2023: in 2022: Philippines Abroad Total Gross income P500,000 P200,000 P700,000 Direct Deductions 200,000 300,000 500,000 Common Expenses 150,000 Compute the income tax due if Qalvin is a resident foreign corporationUNILEVER CARIBBEAN LIMITED Statement of Financial Position December 31, 2022 (Expressed in Trinidad and Tobago Dollars) Notes 2022 2021 $'000 $'000 ASSETS Non-current assets Property, plant and equipment 8 4,285 8,943 Retirement benefit asset 9(i) 99,142 137,039 Deferred tax asset 10 14,250 6,459 117,677 152,441 Current assets Inventories 11 29,250 26,808 Taxation recoverable…UNILEVER CARIBBEAN LIMITED Statement of Financial Position December 31, 2022 (Expressed in Trinidad and Tobago Dollars) Notes 2022 2021 $'000 $'000 ASSETS Non-current assets Property, plant and equipment 8 4,285 8,943 Retirement benefit asset 9(i) 99,142 137,039 Deferred tax asset 10 14,250 6,459 117,677 152,441 Current assets Inventories 11 29,250 26,808 Taxation recoverable…
- USCo incurred $100,000 in interest expense for the current year. The tax book value of USCo’s assets generating foreign-source income is $5,000,000. The tax book value of USCo’s assets generating U.S.-source income is $45,000,000. How much of the interest expense is allocated and apportioned to foreign-source income?If a branch of a foreign corporation (resident foreign corporation) derives net income of P20,000,000.00 to be remitted to the foreign head office, how much is the branch profits remittance tax? Group of answer choices P1,500,000.00 P2,000,000.00 P3,000,000.00 P2,250,000.004. XYZcorporation reported the following gross income and expenses: Gross income in the Philippines is 38,000,000 while deductions is 15,000,000 for a total taxable income of 23,000,000. Abroad, the gross income is 14,000,000 while the deduction is 3,000,000 for a total taxable income of 11,000,000. Compute the income tax due for 2021 if XYZ is a domestic corporation. P10,200,000 P6,900,000 P8,500,000 P6,800,000
- What is the taxable income for the year 2020? A. P25,000 B. P75,000 C. P280,620 D. P300,000Amount in excess of P490,000.00 taxable income is to be multiplied to_______to compute for the graduated tax due a. 30% b. 32% c. 35%Based on the below data, answer as required: WITHIN OUTSIDE Gross income 8,000,000 4,000,000 Business expenses 5,000,000 3,000,000 Sale of land and warehouse (cost 2m) 3,000,000 - a. If X is a domestic corporation, how much is the taxable income and income tax due in the Philippines per annual ITR? b. If X is a resident foreign corporation, how much is the taxable income and income tax due in the Philippines per annual ITR?