On January 1, 2018, Ms. D. Nagkulang invested P1,000,000 to BDO's 5-year, tax-free time deposit. The long
Fantastic news! We've Found the answer you've been seeking!
Question:
On January 1, 2018, Ms. D. Nagkulang invested P1,000,000 to BDO's 5-year, tax-free time deposit. The long term deposit pays 10% annual interest every January 1. In need of cash, she pre-terminated her investment on July 1. 2021.
Assume the investment is made by a domestic corporation, how much final tax is withheld in the year of pre-termination?
Related Book For
Accounting for Governmental and Nonprofit Entities
ISBN: 978-0078025822
17th edition
Authors: Jacqueline Reck, Suzanne Lowensohn, Earl Wilson
Posted Date: