Create a flowchart diagram that will input the Gross Income of a particular employee, and compute for the output of his/her Tax and Net Income according to the table given below Income Tax Tables under TRAIN Law(Part 2- Applicable from Year 2023 Onwards)Source: BIR and www.PinoyMoneyTalk.comANNUAL INCOMETAX RATEP250,000 and belowNone (0%)Above P250,000 to P400,00015% of excess over P250,000Above P400,000 to P800,000P22,500 + 20% of excess over P400,000Above P800,000 to P2,000,000P102,500 + 25% of excess over P800,000Above P2,000,000 to P8,000,000 P402,500 + 30% of excess over P2,000,000Above P8,000,000P2.2025 million + 35% of excess over P8 millionPinoyMoneyTalk.com

Answered: Create a flowchart diagram that will…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

See similar textbooks

Related questions

Concept explainers

Question

Create a flowchart diagram that will input the Gross Income of a particular employee, and compute for the output of his/her Tax and Net Income according to the table given below

Income Tax Tables under TRAIN Law
(Part 2- Applicable from Year 2023 Onwards)
Source: BIR and www.PinoyMoneyTalk.com
ANNUAL INCOME
TAX RATE
P250,000 and below
None (0%)
Above P250,000 to P400,000
15% of excess over P250,000
Above P400,000 to P800,000
P22,500 + 20% of excess over P400,000
Above P800,000 to P2,000,000
P102,500 + 25% of excess over P800,000
Above P2,000,000 to P8,000,000 P402,500 + 30% of excess over P2,000,000
Above P8,000,000
P2.2025 million + 35% of excess over P8 million
PinoyMoneyTalk.com

Expert Solution

Step by step

Solved in 2 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, computer-science and related others by exploring similar questions and additional content below.

Similar questions