8. CCC is a Filipino CPA and owner of DDD Accounting Services. DDD Accounting Services is a VAT registed company. During the year, he reported an annual business income Philippines of P2,000,000, Business Income Abroad of P500,000 and allowed deduction Philippines, P400,000 Allowed deduction Abroad of P100,000 and non deductible business expenses Philippines of P60,000. Compute the basic income tax due.
8. CCC is a Filipino CPA and owner of DDD Accounting Services. DDD Accounting Services is a VAT registed company. During the year, he reported an annual business income Philippines of P2,000,000, Business Income Abroad of P500,000 and allowed deduction Philippines, P400,000 Allowed deduction Abroad of P100,000 and non deductible business expenses Philippines of P60,000. Compute the basic income tax due.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please answer numbers 8 to 10 only.
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