Compute the income tax due for 2021
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Compute the income tax due for 2021 if Yolanda is a General Professional Partnerahip
- P3,400,000
- P10,200,000
- P8,500,000
- 0
Phils. Corporation reported the following gross income and expenses
| Philippines | Overseas | ||
| Gross income | 38,000,000 | 14,000,000 | 52,000,000 |
| deductions | 15,000,000 | 3,000,000 | 18,000,000 |
| taxable income | 23,000,000 | 11,000,000 | 34,000,000 |
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