Japan Air Lines (a resident international carrier) has the following data for the current year: . Gross receipts – Philippines P10,000,000 Gross receipts – Japan 15,000,000 Expenses – Philippines 4,000,000 Expenses – Japan 8,000,000 Additional information: • 60% of its gross receipts from Philippine sources were derived from transport of passengers while 50% of its gross receipts from Japan were derived from its cargo operations. • 50% of it~ expenses (Philippines and Japan) are related to passenger operations. What is the applicable business tax of Japan Air Lines Group of answer choices 12% value added tax 3% percentage tax on gross receipts derived from sources within the Philippines. All of the above 3% common carrier's tax on gross receipts derived from the transport of cargo from Philippines to another country.

Japan Air Lines (a resident international carrier) has the following data for the current year: . Gross receipts – Philippines P10,000,000 Gross receipts – Japan 15,000,000 Expenses – Philippines 4,000,000 Expenses – Japan 8,000,000 Additional information: • 60% of its gross receipts from Philippine sources were derived from transport of passengers while 50% of its gross receipts from Japan were derived from its cargo operations. • 50% of it~ expenses (Philippines and Japan) are related to passenger operations. What is the applicable business tax of Japan Air Lines Group of answer choices 12% value added tax 3% percentage tax on gross receipts derived from sources within the Philippines. All of the above 3% common carrier's tax on gross receipts derived from the transport of cargo from Philippines to another country.

International Financial Management

14th Edition

ISBN:9780357130698

Author:Madura

Publisher:Madura

Chapter10: Measuring Exposure To Exchange Rate Fluctuations

Section: Chapter Questions

Problem 34QA

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