ABC Inc., a domestic corporation registered with BIR since 2015, has the following data for 2021 & 2022 taxable years: 

	2021	2022
Gross receipts	11,500,000	120,000,000
Discounts and allowances	2,500,000
Salaries of personnel directly involved in rendering services	3,000,000	38,000,000
Salaries of administrative personnel	1,000,000	12,000,000
Fees of consultants directly involved in rendering service	500,000	16,000,000
Rental of equipment used in rendering services	700,000	15,000,000
Rental of office space for use of admin personnel	500,000	5,000,000
Other operating expenses	4,200,000	23,000,000

 

Questions: 

1. Income tax due and payable in 2021?

1.  
2. 2. Income tax due and payable in 2022?
3.  

Answer rating: 100% (QA)

To calculate the income tax due and payable for ABC Inc for 2021 and 2022 we need to determine the t... View the full answer