The taxpayer is a resident citizen. In the Philippines, his business gross income is 550,000 and his business expense is 100,000. His compensation income outside the Philippines is 600,000. How much is his taxable income in the Philippines? 450,000 550,000 1,050,000 1,150,000
The taxpayer is a resident citizen. In the Philippines, his business gross income is 550,000 and his business expense is 100,000. His compensation income outside the Philippines is 600,000. How much is his taxable income in the Philippines? 450,000 550,000 1,050,000 1,150,000
Chapter15: Choice Of Business Entity—other Considerations
Section: Chapter Questions
Problem 83P
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The taxpayer is a resident citizen. In the Philippines, his business gross income is 550,000 and his business expense is 100,000. His compensation income outside the Philippines is 600,000. How much is his taxable income in the Philippines?
- 450,000
- 550,000
- 1,050,000
- 1,150,000
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