Assuming that the basic tax is PHP 120,000, the total amount payable is
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. A taxpayer did not file his income tax return for taxable year 2019 on time. On March 12, 2022, he was notified by the BIR of his failure to file the return. The taxpayer filed the return and paid the tax on April 15, 2022.
Assuming that the basic tax is PHP 120,000, the total amount payable is
a. PHP 210,000
b. PHP 208,800
c. PHP 156,000
d. PHP 180,000
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