China Airlines Inc., a resident foreign corporation, has the following data for the taxable year 2x18: Passengers airfare from China to the Philippines P 1,800,000 Passengers airfare from the Philippines to China 1,500,000 Airfare for cargoes from China to the Philippines 700,000 Airfare for cargoes from the Philippines to China 1,300,000 Compute the income tax payable.
China Airlines Inc., a resident foreign corporation, has the following data for the taxable year 2x18: Passengers airfare from China to the Philippines P 1,800,000 Passengers airfare from the Philippines to China 1,500,000 Airfare for cargoes from China to the Philippines 700,000 Airfare for cargoes from the Philippines to China 1,300,000 Compute the income tax payable.
SWFT Essntl Tax Individ/Bus Entities 2020
23rd Edition
ISBN:9780357391266
Author:Nellen
Publisher:Nellen
Chapter16: Multijurisdictional Taxation
Section: Chapter Questions
Problem 18P
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China Airlines Inc., a resident foreign corporation, has the following data for the taxable year 2x18:
Passengers airfare from China to the Philippines P 1,800,000
Passengers airfare from the Philippines to China 1,500,000
Airfare for cargoes from China to the Philippines 700,000
Airfare for cargoes from the Philippines to China 1,300,000
Compute the income tax payable.
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