XYZ Inc., a domestic corporation, paid the following during the month of April 2022: Merchandise, ABC Company (regular supplier), P150,000 Professional Fees – IT services, DEF IT Consulting Services, Inc. (one-time transaction), P400,000 Security Agency Fee, GHI Agency Services, Inc., P25,000 Rentals, JKL Leasing Corporation, P200,000 Cash Dividends, Various shareholders (all are Filipino residents), P400,000 Selling price of the land purchased from the seller which held the land as a capital asset, Juan dela Cruz, , P1,560,000 The land was sold when the zonal value was 2 million. Compute the expanded withholding tax
XYZ Inc., a domestic corporation, paid the following during the month of April 2022: Merchandise, ABC Company (regular supplier), P150,000 Professional Fees – IT services, DEF IT Consulting Services, Inc. (one-time transaction), P400,000 Security Agency Fee, GHI Agency Services, Inc., P25,000 Rentals, JKL Leasing Corporation, P200,000 Cash Dividends, Various shareholders (all are Filipino residents), P400,000 Selling price of the land purchased from the seller which held the land as a capital asset, Juan dela Cruz, , P1,560,000 The land was sold when the zonal value was 2 million. Compute the expanded withholding tax
Chapter17: Corporations: Introduction And Operating Rules
Section: Chapter Questions
Problem 1BCRQ
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XYZ Inc., a domestic corporation, paid the following during the month of April 2022:
Merchandise, ABC Company (regular supplier), P150,000
Professional Fees – IT services, DEF IT Consulting Services, Inc. (one-time transaction), P400,000
Security Agency Fee, GHI Agency Services, Inc., P25,000
Rentals, JKL Leasing Corporation, P200,000
Cash Dividends, Various shareholders (all are Filipino residents), P400,000
Selling price of the land purchased from the seller which held the land as a capital asset, Juan dela Cruz, , P1,560,000
The land was sold when the zonal value was 2 million.
Compute the expanded withholding tax
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