Mr. Tuao won an P800,000 prize in a national dancing competition. The organizer of the event declared that the P800,000 grand prize was "tax free." How much final tax must be remitted by the organizer to the BIR?

Mr. Tuao won an P800,000 prize in a national dancing competition. The organizer of the event declared that the P800,000 grand prize was "tax free." How much final tax must be remitted by the organizer to the BIR?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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