1. Alta Vista Company operates a water und radio broadcasting franchise provides the following in 2018:Gross receipts Water franchise P 2,000,000Radio franchise 10,000,000Operating expenses 5,000,000Net income P7,000,000The total percentage tax on franchise is 2. African International Carrier reported the following gross receipts from tickets sold: Outside for trip-Manila to USA P1,000,000; Outside for trip-USA to Manila 1,200,000; In the Philippines for trip - USA to Manila 1,500,000; In the Philippines for trip - Manila to USA 1,100,000. The Philippine business tax to be paid is 3. The City of Baguio called US President Bush and President Arroyo to attend the Panagbenga 2018 incurring telephone expenses amounting to P10,000 and P2,000,respectively.How much is the percentage tax to be paid by the City of Baguio?

1. Alta Vista Company operates a water und radio broadcasting franchise provides the following in 2018:Gross receipts Water franchise P 2,000,000Radio franchise 10,000,000Operating expenses 5,000,000Net income P7,000,000The total percentage tax on franchise is 2. African International Carrier reported the following gross receipts from tickets sold: Outside for trip-Manila to USA P1,000,000; Outside for trip-USA to Manila 1,200,000; In the Philippines for trip - USA to Manila 1,500,000; In the Philippines for trip - Manila to USA 1,100,000. The Philippine business tax to be paid is 3. The City of Baguio called US President Bush and President Arroyo to attend the Panagbenga 2018 incurring telephone expenses amounting to P10,000 and P2,000,respectively.How much is the percentage tax to be paid by the City of Baguio?

SWFT Corp Partner Estates Trusts

42nd Edition

ISBN:9780357161548

Author:Raabe

Publisher:Raabe

Chapter16: Multistate Corporate Taxation

Section: Chapter Questions

Problem 35P

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