Chloe is a VAT-registered sole proprietor whose annual gross receipts is only P2,500,000. Halle, on the other hand, is an employee whose annual compensation is only P2,000,000. Who among them can avail of the 8% income tax option? Both Chloe and Halle. O Neither Chloe nor Halle. O Halle only. Chloe only.

Chloe is a VAT-registered sole proprietor whose annual gross receipts is only P2,500,000. Halle, on the other hand, is an employee whose annual compensation is only P2,000,000. Who among them can avail of the 8% income tax option? Both Chloe and Halle. O Neither Chloe nor Halle. O Halle only. Chloe only.

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter15: Taxing Business Income

Section: Chapter Questions

Problem 14CE

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