Which of the following is liable for the 3% percentage tax under section 116 of the NIRC?

SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 15P
icon
Related questions
Question
100%

Which of the following is liable for the 3% percentage tax under section 116 of the NIRC?

Which of the following is liable for the 3% percentage tax under section
116 of the NIRC?
O Jeepney operators
A non-VAT registered Individual tax payer who availed the 8% tax regime
O Non-resident foreign corporation with total Philippine gross receipts during
the year of P1,530,000
O A domestic corporation engaged in the sale of refined sugar with gross receipts
of P450,000 per quarter
Transcribed Image Text:Which of the following is liable for the 3% percentage tax under section 116 of the NIRC? O Jeepney operators A non-VAT registered Individual tax payer who availed the 8% tax regime O Non-resident foreign corporation with total Philippine gross receipts during the year of P1,530,000 O A domestic corporation engaged in the sale of refined sugar with gross receipts of P450,000 per quarter
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Recommended textbooks for you
SWFT Essntl Tax Individ/Bus Entities 2020
SWFT Essntl Tax Individ/Bus Entities 2020
Accounting
ISBN:
9780357391266
Author:
Nellen
Publisher:
Cengage
SWFT Comprehensive Vol 2020
SWFT Comprehensive Vol 2020
Accounting
ISBN:
9780357391723
Author:
Maloney
Publisher:
Cengage
SWFT Corp Partner Estates Trusts
SWFT Corp Partner Estates Trusts
Accounting
ISBN:
9780357161548
Author:
Raabe
Publisher:
Cengage
SWFT Comprehensive Volume 2019
SWFT Comprehensive Volume 2019
Accounting
ISBN:
9780357233306
Author:
Maloney
Publisher:
Cengage
CONCEPTS IN FED.TAX., 2020-W/ACCESS
CONCEPTS IN FED.TAX., 2020-W/ACCESS
Accounting
ISBN:
9780357110362
Author:
Murphy
Publisher:
CENGAGE L