BOM21 B BACD002 BOMI 10:301 EA#9 Tax on Corporation: Problem Solving FnB Question 24 of 43 Fill in the blanks The books of a corporation show the following for the taxable year 2019 Gross income Deductions Philippines P400,000 P200,000 United States of America 300,000 100,000 Singapore 200,000 150,000 Malaysia 100,000 50,000 The corporation paid tax on net income of P70,000 in the US, P19,000 in Singapore and P15,000 in Malaysia The tax still due assuming that the corporation is Domestic Corporation is (foreign income taxes are claimed as tax credit)

BOM21 B BACD002 BOMI 10:301 EA#9 Tax on Corporation: Problem Solving FnB Question 24 of 43 Fill in the blanks The books of a corporation show the following for the taxable year 2019 Gross income Deductions Philippines P400,000 P200,000 United States of America 300,000 100,000 Singapore 200,000 150,000 Malaysia 100,000 50,000 The corporation paid tax on net income of P70,000 in the US, P19,000 in Singapore and P15,000 in Malaysia The tax still due assuming that the corporation is Domestic Corporation is (foreign income taxes are claimed as tax credit)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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