12. For the taxable year 2021, a resident foreign corporation reported a total gross receipts from services
Question:
12. For the taxable year 2021, a resident foreign corporation reported a total gross receipts from services of P30,000,000. It also reported direct costs and indirect expenses in the amounts of 5,000,000 and 500,000. respectively. Compute the MCIT in 2021.*
2 points
200,000
245,000
250,000
255,000
13. For the taxable year 2021, a resident foreign corporation reported a total gross receipts from services of P30,000,000. It also reported direct costs and indirect expenses in the amounts of 25,000,000 and 500,000. respectively. The total assets of the corporation is 25M excluding the land on which its office is situated. Compute the regular corporate income tax in 2021.*
2 points
1,000,000
1,250,000
900,000
1,125,000
14. For the taxable year 2021, a domestic corporation reported a total gross receipts from services of P15,000,000. It also reported direct costs and indirect expenses in the amounts of 10,000,000 and 500,000. respectively. The total assets of the corporation is 50M excluding the land on which its office is situated. Compute the regular corporate income tax in 2021.*
2 points
1,000,000
1,250,000
900,000
1,125,000
15. Given:
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill