Katya Corporation had the following data in 2022:Gross Income, PhilippinesP600,000500,000300,000Gross Income, USAExpenses, PhilippinesExpenses, USAInterest from time deposit300,00010,00021,000interest on money market placement, net of taxCompute the income tax due and the final taxes payable if Katya is a:1. Domestic Corporation2. Resident Foreign Corporation3. Nonresident Foreign Corporation

1) Domestic Corporation Particulars Amount (P) Gross income, Phillipines 600000 Less:…

Katya Corporation had the following data in 2022: Gross Income, Philippines 600,000 Gross Income, USA 500,000 Expenses, Philippines Expenses, USA Interest from time deposit 300,000 300,000 10,000 21,000 interest on money market placement, net of tax Compute the income tax due and the final taxes payable if Katya is a: 1. Domestic Corporation 2. Resident Foreign Corporation 3. Nonresident Foreign Corporation

Katya Corporation had the following data in 2022: Gross Income, Philippines 600,000 Gross Income, USA 500,000 Expenses, Philippines Expenses, USA Interest from time deposit 300,000 300,000 10,000 21,000 interest on money market placement, net of tax Compute the income tax due and the final taxes payable if Katya is a: 1. Domestic Corporation 2. Resident Foreign Corporation 3. Nonresident Foreign Corporation

SWFT Essntl Tax Individ/Bus Entities 2020

23rd Edition

ISBN:9780357391266

Author:Nellen

Publisher:Nellen

Chapter16: Multijurisdictional Taxation

Section: Chapter Questions

Problem 20P

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