In 2018, Rodrigo, a resident Filipino citizen, was an employee of ABC Corporation, earning compensation income...
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In 2018, Rodrigo, a resident Filipino citizen, was an employee of ABC Corporation, earning compensation income of P800,000 inclusive of 13th month pay of P50,000. He was also a NON- VAT taxpayer engaged in retail business, generating sales of P2,500,000 and incurring cost of sales and operating expenses amounting to P800,000 and P500,000, respectively. Moreover, Rodrigo won prizes totaling P200,000 after joining several singing competitions and had non-operating rental income of P400,000. Is Rodrigo qualified under the TRAIN Law to avail of the 8% optional income tax rate? In 2018, Rodrigo, a resident Filipino citizen, was an employee of ABC Corporation, earning compensation income of P800,000 inclusive of 13th month pay of P50,000. He was also a NON- VAT taxpayer engaged in retail business, generating sales of P2,500,000 and incurring cost of sales and operating expenses amounting to P800,000 and P500,000, respectively. Moreover, Rodrigo won prizes totaling P200,000 after joining several singing competitions and had non-operating rental income of P400,000. Is Rodrigo qualified under the TRAIN Law to avail of the 8% optional income tax rate?
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No Rodrigo is not qualified to avail of the 8 optional income tax rate under the TRAIN Law in 2018 f... View the full answer
Related Book For
South-Western Federal Taxation 2019 Comprehensive
ISBN: 9781337703017
42th Edition
Authors: David M. Maloney, William A. Raabe, William H. Hoffman, James C. Young
Posted Date:
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