In 2021, XYZ Company, a domestic corporation, recorded other income as follows: Realized foreign exchange gain, P26,337,740 Dividend from PLDT, P17,213,965 Foreign exchange gain resulting from offsetting of accounts, P8,445,934 Gain on sale of real properties subjected to CGT, P1,000,000 Gain on sale of shares of stock subjected to CGT, P250,000 Gain on sale of shares of stock subjected to OPT, P100,000 Reversal of prior year provision for bad debts due to over recording in prior year (not claimed as deduction in previous year), P250,000 Interest income – Peso deposits – gross of 20% FWT, P5,000,000 Interest income – foreign currency deposits – gross of 15% FWT, P3,500,000 Interest income from deposits abroad, P1,450,000 Interest income on loans to affiliates, P584,116 Share in equity earnings of Mabuhay Services, Inc., a local subsidiary, P6,188,779 Royalties already subjected to 20% FWT (Gross), P5,661,784 Insurance proceeds on casualty losses (recovery of lost profit), P2,358,226 How much is the total income not subject to regular corporate income tax in 2021?
In 2021, XYZ Company, a domestic corporation, recorded other income as follows:
Realized foreign exchange gain, P26,337,740
Dividend from PLDT, P17,213,965
Foreign exchange gain resulting from offsetting of accounts, P8,445,934
Gain on sale of real properties subjected to CGT, P1,000,000
Gain on sale of shares of stock subjected to CGT, P250,000
Gain on sale of shares of stock subjected to OPT, P100,000
Reversal of prior year provision for
Interest income – Peso deposits – gross of 20% FWT, P5,000,000
Interest income – foreign currency deposits – gross of 15% FWT, P3,500,000
Interest income from deposits abroad, P1,450,000
Interest income on loans to affiliates, P584,116
Share in equity earnings of Mabuhay Services, Inc., a local subsidiary, P6,188,779
Royalties already subjected to 20% FWT (Gross), P5,661,784
Insurance proceeds on casualty losses (recovery of lost profit), P2,358,226
How much is the total income not subject to regular corporate income tax in 2021?
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