1 . Mr. Encina is a government employee. He is not engaged in business nor has any...
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Question:
1. Mr. Encina is a government employee. He is not engaged in business nor has any other source of income other than his employment. He earned a total taxable income of P854,000. How much is the income tax due?
2. In 2020. Ms, Montiben owns a grocery store with gross receipts of P1,375,000. Her cost of sales and operating expenses are P600,000 and P400,000, respectively and with a non-operating income of P100,000.
Compute for;
1. What business tax is due to her?
2. How much is the income tax due to her?
3. How much tax due if she availed the OSD?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: