Ching Chong Bank has the following data for the first month of the current year: Interest, commissions, and discounts from lending activities (remaining maturity of 5 years) P 5,000,000 Income from finance leasing (remaining maturity is more than 5 years) 3,000,000 Dividends and equity shares in net income of subsidiaries 1,000,000 Rentals of properties 500,000 Net trading gains within the taxable year on foreign currency 300,000 - How much is the gross receipt tax? - How much is the VAT or percentage tax for the year 2018?
Ching Chong Bank has the following data for the first month of the current year:
Interest, commissions, and discounts from lending activities
(remaining maturity of 5 years) P 5,000,000
Income from finance leasing (remaining maturity is more than
5 years) 3,000,000
Dividends and equity shares in net income of subsidiaries 1,000,000
Rentals of properties 500,000
Net trading gains within the taxable year on foreign currency 300,000
- How much is the gross receipt tax?
- How much is the VAT or percentage tax for the year 2018?
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